Iran’s war costs reach $132 billion to U.S. consumers as ceasefire remains shaky
The Iran war is costing Americans $132 billion, as gas prices, Strait of Hormuz tensions, and an uneasy ceasefire keep markets on edge.
The U.S. military launched a new attack on targets in Iran on June 27, after the Iranian government allegedly conducted a new drone attack on a commercial oil tanker in the Strait of Hormuz, according to U.S. Central Command.
CENTCOM said the operation took place around 4:30 a.m. ET on Saturday after Iranian forces attacked the Panamanian-flagged tanker M/T Kiku with an attack drone. Centcom said the tanker was carrying more than 2 million barrels of crude oil near the Strait of Hormuz.
The military said Iran was “given the opportunity to comply with the ceasefire agreement” following the U.S. retaliatory attack the day before, but “has chosen not to comply with the ceasefire agreement” following recent attacks on commercial shipping. In response, U.S. aircraft struck multiple military targets, including surveillance infrastructure, communications systems, air defense facilities, drone storage facilities, and mine-laying capabilities, Centcom said.
CENTCOM announces attack targeting military infrastructure
Centcom said Saturday’s operation was carried out “at the direction of the Commander-in-Chief” and was aimed at a direct response to Iran’s continued attacks on commercial shipping.
“Merchant shipping through the Strait of Hormuz continues,” the command said, adding that U.S. forces remain “alert, lethal, and ready.”
The attack followed a U.S. military action on June 26 in which U.S. aircraft targeted Iranian missile and drone storage sites and coastal radar facilities after Iran attacked the Singapore-flagged cargo ship M/V Ever Lovely in the Strait of Hormuz.
President Donald Trump said after the June 26 attack that Iran had violated the ceasefire agreement, calling the latest attack a “stupid violation.” Before the first U.S. retaliation, President Trump told reporters, “We’ll see,” when asked if the ceasefire would hold. Vice President J.D. Vance reiterated that the United States respected the agreement and warned that “violence will be met with violence.”
Commercial shipping remains at the center of tensions
On June 27, Britain’s Maritime Trade Operations Agency reported that a tanker was hit by a projectile in the Strait of Hormuz, damaging a bridge but that all crew members were safe. The Joint Maritime Information Center has also raised its maritime security threat level following recent attacks.
The Strait of Hormuz, one of the world’s busiest energy transport corridors, remains a focus of tensions since fighting broke out between the United States, Israel and Iran earlier this year. Commercial traffic has resumed under a cease-fire, but repeated attacks on commercial ships have threatened efforts to restore normal shipping through the waterway.
Reporter Anthony Thompson can be reached at ajthompson@usatodayco.com or X @athompsonUSAT.
