Oil soars and reaches highest level since 2022

Data from Bloomberg indicate that this is the highest level recorded since June 2022, when it reached US$122.01.

Despite the instability in the energy market due to the war, US President Donald Trump signaled this Wednesday that he will not accept the new proposal presented by Iran over the weekend to lift the maritime blockade of the country’s ports in exchange for the opening of the Strait of Hormuz.

In an interview with Axiosthe official said that he first awaits guarantees from Iran about the end of the nuclear program, a point that was not avoided in this first phase of the proposal. Trump highlighted that the current maritime blockade is being more effective than bombings.

The Pentagon estimated on Wednesday that the war against Iran has already cost the US $25 billion, mainly in ammunition, since the start of the operation on February 28.

“To date, we are spending approximately $25 billion on Operation Epic Fury. The majority of that sum is munitions,” said Acting Under Secretary of War for Financial Affairs Jules Hurst at a hearing before the U.S. House of Representatives.

In turn, the population of Iran feels closely the impacts of the war with the currency collapse, skyrocketing inflation and mass layoffs.