Latest Updates on West Asia Conflict

Iran conflict cost US more than $38 billion: Congressional Budget Office

The US war against Iran has cost the Department of Defence more than USD 38 billion through Aug 1, and will continue costing up to USD 3 billion a month or more depending on the intensity of the conflict, according to an assessment released Tuesday by the nonpartisan Congressional Budget Office. CBO said the war is expected to contribute to inflation into the first quarter of 2027, making inflation roughly 0.5 percentage points higher than they had previously estimated. That's driven largely by the reduction of oil and natural gas shipments through the Strait of Hormuz and disruptions to shipping through the Red Sea. The estimate, prepared in response to a request for information from the top Democrat on the House Budget committee, Rep Brendan Boyle, largely aligns with a previous estimate from Defence Secretary Pete Hegseth, who pinned the costs at USD 37.5 billion, according to his Senate testimony. The estimates come largely from replacing munitions and equipment lost in battle,

How Iranian hard-liners prevailed and sabotaged peace deal with US

Opponents derailed the agreement with a clandestine effort to attack ships in the Strait of Hormuz, regime insiders say. Iran's president was furious when he found out

Iranian ship struck in Hormuz; talks between Tehran, neighbours postponed

An Iranian cargo vessel was struck early Sunday off Qeshm Island in the Strait of Hormuz, Iranian state media said, and a plan by Tehran to brief neighbouring countries on its contested efforts to manage shipping in the strait was postponed. The attack, which the reports said killed one and wounded four, drew attention back to the strait after threats to shipping in the region intensified last week when Iran-backed Houthi rebels captured an island on the Bab el-Mandeb Strait in the Red Sea. Iran's state-run IRNA news agency quoted the Qeshm governor as blaming a "terrorist enemy" for Sunday's attack. There was no immediate comment by the US military, which has struck Iranian-flagged vessels during its blockade of Iranian ports and faces a new threat from Iranian ballistic missiles launched at its warships. Qeshm Island, about 22 kilometres from the port city of Bandar Abbas, is key to Iran asserting control over the Strait of Hormuz. Hours before the attack, Iran's government remai

Iranian commercial vessel hit near Strait of Hormuz, 1 killed, 3 injured

State-run media say an Iranian commercial vessel was struck early Sunday off Qeshm Island near the Strait of Hormuz, with one person killed and three wounded. The United Kingdom Maritime Trade Operations monitor separately reported a vessel was hit by a projectile while transiting the strait, with no details. There was no immediate statement by the US military, which previously has struck Iranian-flagged vessels as it keeps up a blockade of Iranian ports.

Current inflation shock likely to last longer than expected: ECB president

The ECB raised interest rates this week for the second time since the Iran war sent oil and gas prices soaring

Iraq says attack on Saudi Arabia's pipeline originated from its territory

Iraq said attacks on a key Saudi oil pipeline were launched from its territory, as US President Donald Trump appeared to blame Iran. Meanwhile, the number of displaced people in Yemen is rising quickly after a swift advance by Iran-backed Houthi rebels threatens a key alternative to the Strait of Hormuz, the Bab el-Mandeb. And Lebanon and Israel will hold new direct talks next month. Here's a look at the latest news in the Middle East. Iraq dismisses commander over Saudi pipeline attacks ----------------------------------------------------------- Prime Minister Ali al-Zaidi ordered an investigation into the operations command in Maysan province, which borders Iran, and dismissed its commander after authorities determined that the attacks on the Saudi pipeline were launched from the province, the government said. The Saudi Foreign Ministry blamed the attacks on drones that came from Iraq and said the kingdom would not retaliate to give the Iraqi government "an opportunity to take

Saudi Arabia has few options amid mounting threats from Iran, its allies

A lightning advance by Houthi rebels threatens a crucial Red Sea shipping route. Drone attacks blamed on Iraqi militias have forced the closure of a major pipeline, and Iran is still disrupting the Strait of Hormuz. It's a nightmare scenario for Saudi Arabia, and it has sent jitters through global markets. The Saudis' most essential ally, the United States, has been unpredictable and sometimes unreliable. US President Donald Trump seems reluctant to widen an already unpopular and stalemated Mideast war ahead of congressional elections. For Iran, the rebels' advance and closure of the pipeline ramp up global economic pressure as its grip over the Strait of Hormuz has been loosened. Michael Ratney, a former US ambassador to Saudi Arabia, said the latest developments are "incredibly frustrating" for the kingdom. "Despite their antipathy for the Iranians, this is a war they had never asked for, they had great trepidation about. And once it started, all of their worst-case scenarios .

Saudi suspends key oil pipeline, only route bypassing Hormuz after attacks

The 1,200-km pipeline, which carries up to 5 million barrels per day, helps Riyadh bypass the Strait of Hormuz, where tanker traffic has slowed sharply amid the US-Iran war

Iran will not surrender to US, Israel 'bullying': Prez Pezeshkian in India

Iran will not surrender to "bullying" and "arrogance" and will stand firm to protect its national interests, Iranian President Masoud Pezeshkian said on Friday in a direct message to the US and Israel amid a sudden spike in West Asian hostilities. In an address at a gathering of religious leaders, intellectuals, academicians and business figures, Pezeshkian outlined Tehran's vision for the Gulf region, emphasising a commitment to peaceful coexistence while vowing to defeat foreign forces seeking to "sow the seeds of discord" within Iranian society. "We will not surrender to oppression. Iran is standing up to Israel and the US because we will not be bullied, and if they push us, we will push them back," the Iranian president said. He labelled the US and Israeli forces as "real militants", pointing to a US strike near a primary school in southern Iran that left 168 children dead. "They should take on our soldiers instead of targeting hospitals, infrastructure and livelihoods. They th

Iran seeks end to Saudi blockade of Yemen after Houthi rebels take key port

Iran's government on Friday called for an end to Saudi Arabia's blockade of Yemen and the immediate resumption of talks, in its first public statement since Iran-backed Houthi rebels entered a key Yemeni port and intensified their threat to a key global shipping alternative to the Strait of Hormuz. In a statement carried by the state-run IRNA news agency, Iran's foreign ministry said Yemen's sovereignty must be respected and its problems cannot be resolved through a blockade or military alliances. Iran also said it was ready to help support negotiations. Meanwhile, experts say the developments in Yemen could give Tehran more leverage in any negotiations with the United States after over six months of war. Events threaten a key Strait of Hormuz alternative ------------------------------------------------------ The Houthis' entry into the Red Sea port of Mokha on Thursday brings them within 80 kilometres of the Bab el-Mandeb Strait, an important alternative for global shipping as Ir

US aircraft damaged in Iranian strikes on Jordan air base, no casualties

No American casualties or fatalities were reported from the strikes on the Jordanian base

Vessel traffic through Strait of Hormuz falls to 7, below 10-day average

Vessel traffic through the key oil-shipping waterway fell to seven on Wednesday from 12 a day earlier and remained well below the 10-day average of 14, preliminary ship tracking data showed

Iran conflict will end 'immediately' after US midterm elections: Trump

Trump accused Tehran of trying to influence American voters in hopes of bringing a weaker administration to power and pursuing its nuclear ambitions

Explosions reported across Iran's coast; blasts heard at Saudi air base

Multiple explosions were reported across Iran's coastal regions, including Qeshm Island, Sirik and Minab, while reports also emerged of blasts at a Saudi air base and in the city of Taif

Oil prices cross $100 as Iran-US attacks deepen crude supply fears

Brent crosses the $100 mark as attacks on shipping near the Strait of Hormuz intensify, raising concerns over deeper disruptions to global oil supplies

Best of BS Opinion: India must again prepare for higher oil prices

Today's opinions examine rising oil risks, the balance between pharmaceutical innovation and affordability, Karnataka's uneven growth, women-focused welfare and misinformation