GOLD loading...| BRENT CRUDE loading... · UP --% SINCE FEB 28| SILVER loading...| GLOBAL STOCKS -- SINCE FEB 28 (S&P 500)| PENTAGON COST TO CONGRESS: $43.6B THROUGH SEPT 3 · CBO +$2-3B/MONTH| RECESSION ODDS: MOODY'S 48.6% · GOLDMAN 30% · EY 40%| US GAS loading.../gal · up from pre-war| DIESEL: loading.../gal · loading...| HORMUZ: BLOCKADE REIMPOSED JULY 14 · ESCORTS MOVING ~1B BBL SINCE REOPEN ATTEMPTS| IRANIAN CIVILIAN DEATHS IN THE TENS OF THOUSANDS · FIGURES CONTESTED| NZ CPI PRESSURE RISING · 75% FUEL IMPORTED| U.S. CASUALTIES UPDATED: 18+ KIA · 756+ WIA · 50,000 ASSIGNED| BRENT CRUDE PEAK: $115/bbl · MARCH 14, 2026| VIX FEAR INDEX: loading...| NATURAL GAS: loading.../MMBtu| WAR STRESS INDEX: --% (LIVE MARKET MODEL)| GOLD loading...| BRENT CRUDE loading... · UP --% SINCE FEB 28| SILVER loading...| GLOBAL STOCKS -- SINCE FEB 28 (S&P 500)| JUNE CEASEFIRE COLLAPSED JULY 8 · SEPT 1 STRIKES ON BANDAR ABBAS / QESHM| U.S. DESTROYED 5 IRGC TANKERS SEPT 8 · FIRE PAUSE ENTERED DAY 10 ON SEPT 19| US GAS loading.../gal · up from pre-war| VIX: loading... · NAT GAS: loading...|
U.S. Taxpayer Cost Since Feb 28
$0
Calculating...
costoftheiranwar.com  ·  Independent tracker · figures refresh from public APIs

The True Cost
of the Iran War

Every dollar, every life, every market shock, updated from public sources. Pentagon briefing to Congress (Sept 2026): $43.6 billion through Sept 3. CBO: another $2-3 billion a month while operations continue. Day -- of the conflict.

Estimated U.S. Taxpayer Cost Since Feb 28, 2026
$0
Pentagon unclassified briefing to Congress (NYT / Bloomberg, Sept 18 2026): $43.6B through Sept 3 - munitions $28.1B, incremental ops $11.2B, lost equipment $4.3B. CBO (Sept 15): $38B through Aug 1, then $2-3B per month. OMB in June: $30B.
Burn now: ~$2.5B / month
Per day (CBO mid): ~$82M
Munitions share: 64%
Munitions to replace
$28.1B
Pentagon to Congress · Sept 3
Incremental ops
$11.2B
Flying hours, fuel, basing
Lost equipment
$4.3B
Aircraft & hardware write-offs
CBO monthly burn
$2-3B
If intensity holds · 5+ yrs to restock
Market Data  UPDATES FROM APIS EACH HOUR
Gold (GC=F)
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Pre-war: $3,790 · Jan ATH: $5,589
Analyst range: $4,400-$5,000
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Brent Crude (BZ=F)
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Pre-war: $74 · Peak: $115 (Mar 14)
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Silver (SI=F)
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Pre-war: ~$32 · ATH: $49 (2011)
War-driven safe-haven demand
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S&P 500 (^GSPC)
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Pre-war: 5,790 · Calculating...
Recession fears weigh on equities
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US Regular Gas (EIA)
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Pre-war avg: ~$2.96/gal
Diesel: loading...
Source: U.S. EIA weekly data
Natural Gas (NG=F)
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Pre-war: ~$3.20/MMBtu
LNG supply shock from Hormuz
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US Dollar Index (DXY)
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War = flight-to-safety USD flows
Strength vs currency basket
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NZD/USD Rate
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Pre-war: 0.6050 · NZD weakens on recession fears
Imported inflation risk rising
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VIX Fear Index (^VIX)
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VIX >20 = elevated fear · >30 = fear
>40 = extreme market stress
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Crypto Fear & Greed
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0-25 Extreme Fear · 26-46 Fear
47-54 Neutral · 55-74 Greed · 75-100 Extreme Greed
Source: alternative.me
Baltic Dry Index
+187%
Shipping costs soaring
Rerouting via Cape of Good Hope
+14 days Europe-Asia routes
Source: Drewry WCI, Mar 2026
AUD/USD Rate
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Pre-war: 0.6350 · RBA raised rates 0.25pp
Mar 18 emergency decision
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War Economic Stress Index
Calculated from market APIs
--%
Awaiting market data...
LowElevatedSevere
Live Stress Model (oil + currencies + equity + VIX)
--%
Moody's Analytics (Mark Zandi)
48.6%
EY-Parthenon (Gregory Daco)
40%
Goldman Sachs
30%
Kalshi prediction market (peak)
35%
JP Morgan (Bob Michele)
25%
Pre-war baseline (Feb 2026)
15-20%
Live model inputs: Fetching oil, currencies, VIX & equity data...
Note: The Live Stress Index is a market-stress model based on oil shock, currency weakness, equity decline, and VIX. It is not a formal econometric recession forecast.
Zandi (Moody's): recession "more than likely by H2 2026" without ceasefire. PNC's Faucher: odds top 50% if oil reaches $150/bbl.
Where the Money Goes
Munitions replacement (interceptors, cruise missiles, JDAMs)
64%$28.1B
Incremental operations (Air Force $6.6B · Navy $2.2B · Army $1.6B+)
26%$11.2B
Damaged or destroyed aircraft and equipment write-offs
10%$4.3B
Of munitions: interceptors about $13B, land-attack cruise about $7B (CBO)
CBOstockpile
50,000+ troops assigned · Patriot / THAAD / SM-6 restock years out
+ongoing
Note: Congressional estimates from WSJ, NYT, and defense analysts. Veteran costs over 10-30 years are not included and will likely triple direct spend (Watson Institute).
Key Numbers at a Glance
Civilian Toll (contested)
10,000s
March floor was 3,400+. Later waves and Sirik raised it. UNESCO still cites Minab school strike.
Oil Price Shock
+40%
$74 to $105/bbl Brent crude. Peaked at $115 on Mar 14.
Gold Price
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Safe-haven surge from pre-war $3,790. Jan ATH was $5,589.
S&P 500 Since War
-5.5%
Since Feb 28. Tech -7.2%, Energy +18%.
US Gas Price Rise
+$0.98
Per gallon since Feb 28. Diesel up sharply. Airline fuel +41%.
Shipping Cost Surge
+187%
Baltic Dry Index. Hormuz closure forces Cape of Good Hope rerouting.
VIX Volatility Index
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Market fear gauge. >20 elevated · >30 fear · >40 extreme stress.
Crypto Fear & Greed
--
Sentiment indicator. 0 = Extreme Fear · 100 = Extreme Greed.
Natural Gas Price
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$/MMBtu. Pre-war: ~$3.20. LNG supply disrupted by Hormuz closure.
Conflict Timeline & Latest Reports
Military & Economic Events
Feb 28, 2026 · 04:00 UTC
Operation Epic Fury begins
U.S. and Israeli jets strike 14 nuclear-linked sites across Iran. B-2 Spirit bombers deploy GBU-57 bunker busters at Fordow. Largest U.S. air campaign since 2003 Iraq invasion.
Feb 28 - Mar 2, 2026
Iran retaliates across three fronts
Ballistic missile barrages target Al Udeid (Qatar) and NSA 5th Fleet (Bahrain). Hezbollah activates in Lebanon. Houthi attacks resume in Red Sea. 28 U.S. service members killed.
Mar 3, 2026
Strait of Hormuz closes
Iran mines and effectively closes the Strait. 21 million barrels/day disrupted. Brent crude surges from $74 to $98 in 24 hours.
Mar 7, 2026
Minab school strike - 47 killed
47 killed at Shajareh Tayyebeh girls' school in Minab, mostly girls aged 7-12. UNESCO and UN Human Rights condemn the strike.
Mar 11, 2026
Pentagon briefs Congress: $11.3B in 6 days
Senate Armed Services Committee briefed. Ongoing rate estimated at $1B/day. Sen. Coons: "likely an undercount." (NYT)
Mar 14, 2026
Brent crude peaks at $115/bbl
Oil hits highest since Ukraine crisis. OPEC+ emergency meeting fails. PNC raises recession odds above 50% at this price.
Mar 26, 2026
UK enters recession - first G7 nation
ONS confirms two consecutive quarters of negative GDP growth. OECD calls UK worst-hit major economy.
Mar 25-27, 2026
Ceasefire talks in Oman collapse
Omani-mediated talks fail. Iran demands complete U.S. withdrawal from all regional bases. U.S. refuses. Brent stabilizes near $105.
Mar 28, 2026
IMF downgrades global growth to 2.1%
Emergency bulletin downgrades 2026 forecast from 3.2% to 2.1%, citing oil shock and trade disruption.
Mar 30, 2026
Iran launches fourth wave of drone strikes
Targeting U.S. drone base in Kuwait. All intercepted by Patriot batteries. (Reuters · AP)
Apr 1-4, 2026
UN Security Council emergency session
Emergency session called by France and Germany. Ceasefire resolution vetoed by U.S. War enters Day 35.
June 14-17, 2026
Islamabad Memorandum signed
14-point U.S.-Iran MOU mediated by Pakistan and Qatar. Digital signature June 14; hard copy at Versailles June 17. U.S. lifts naval blockade June 18. Israel-Hezbollah ceasefire follows June 19. A 60-day clock to a final deal starts.
July 8, 2026
Trump declares the MOU "over"
Fighting resumes. U.S. blockade of Hormuz is reimposed July 14. CENTCOM later reports 100+ vessels redirected for attempting to bypass.
July 7-9, 2026
Largest strike wave since spring
CENTCOM: 170+ targets in 48 hours, then ~90 more including Chabahar port, coastal air defense, and logistics. Ship crossings through Hormuz fall by half in a day.
June 30 / Sept 15-18, 2026
Official cost figures land
OMB: $30B by late June. CBO: $38B through Aug 1, $2-3B/month going forward, 5+ years to rebuild munitions. Pentagon to Congress: $43.6B through Sept 3 ($28.1B munitions, $11.2B ops, $4.3B equipment).
Sept 1, 2026
New U.S. strike wave on southern Iran
CENTCOM hits IRGC air defense, radar, maritime and mine-laying sites around Kenarak, Bandar Abbas and Qeshm after alleged minelaying and the Aug 30 Larak Island attack. Iranian Red Crescent reports civilian deaths near Sirik, including a child.
Sept 8, 2026
Five IRGC crude tankers destroyed
After two attempted ballistic-missile attacks on a U.S. warship, CENTCOM destroys M/T Kaviz, Charminar, Horizon 1, Riesco and Derya. Rubio: "for every time they try that, they're going to lose tankers." Brent briefly back over $100.
Sept 17-19, 2026
Fire pause, UNGA decision point
Tenth day without a ballistic/drone attack on a host state. Trump tells Axios he faces a "big decision" - annihilate the regime or deal - and will consult GCC leaders at UNGA. Adm. Cooper: U.S. escorts have moved 1 billion barrels out of the Gulf. Tehran sends conditions via Qatar. WaPo: more U.S. deaths than publicly disclosed. War Day 204.
Latest Reports
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Fetching from Al Jazeera, BBC, Guardian, Reuters...
Human Cost: Every Number is a Person
U.S. Service Members
18+
killed (DCAS, Aug 21; WaPo Sept 19: undercount)
756+
wounded · 50,000+ assigned to mission
Iranian Military
thousands
IRGC, navy and air-defense losses across seven months; figures contested
Iranian Civilians
10,000s
early-war 3,400+ was a March floor. Later waves, Sirik, and infrastructure strikes raised the toll. Official tallies diverge.
Displacement
1.8M+
internally displaced (UNHCR early estimate). Shipping: 19+ seafarers killed, 6,000+ stranded (IMO)
"47 killed at Shajareh Tayyebeh girls' school in Minab, mostly girls aged 7-12 and their teachers. UNESCO condemned the strike. Iran denies any military presence at the site." Hengaw · AP · UNESCO Statement · March 7, 2026

American families feeling it at home. Gas is up $0.98/gallon nationwide. Diesel jumped from $3.75 to $5.37/gallon (+43% in one month). Every sustained $10 rise in oil costs U.S. households $450 extra per year (Moody's).

New Zealand is not insulated. NZ imports roughly 75% of its liquid fuels. RBNZ paused planned rate cuts. NZ Food Price Index rose 4.2% MoM in March 2026 (Stats NZ preliminary data).

Global South on the edge. Pakistan, Egypt, Kenya, and Sri Lanka already in emergency IMF consultations. UN WFP warns of acute food insecurity in 60+ nations by Q3 2026.

Supply Chain Disruption: The Hidden Costs
Strait of Hormuz
On-off blockadeClosed Mar 3, briefly reopened after the June MOU, blockade reimposed July 14. CENTCOM: 1 billion barrels escorted. Transits still far below the pre-war 130 ships a day.
Food and Fertilizer
+65% fertilizer pricesIran and Qatar supply 30%+ of global potash and urea exports. Global food price index up 8.3% since February.
Pharmaceuticals
4,000+ drugs at riskIran produces pharmaceutical intermediates globally. European hospital chains report 40+ critical drug shortages. WHO declares a pharmaceutical supply emergency.
Helium Supply
40% of world supply haltedQatar, the world's largest helium exporter, is on force majeure. Semiconductor fabs and MRI machines are at risk.
Aviation
+41% jet fuel costsAsia-Europe flights diverted over Central Asia, adding 2-4 hours. IATA estimates global aviation losses of $23B in 2026.
Tech and Chips
Helium and shipping crunchTSMC and Samsung warn of slowdowns. Longer shipping routes delay components. AI data-center buildout timelines are slipping 3-6 months.
Historical War Cost Comparison
U.S. Military Spending (Inflation-Adjusted to 2026 USD)
ConflictDurationDirect Military CostTrue TotalDaily Rate
Iran War 2026 (Day 204)Ongoing · fragile pauses~$44B+
Unknown (veterans + replenishment)~$82M/day now
Afghanistan (2001-2021)20 years$2.31 trillion
$2.3T (Watson Institute)$316M/day
Iraq War (2003-2011)8.5 years$1.92 trillion
$1.9T (Watson Institute)$619M/day
Gulf War (1990-1991)43 days$102 billion
$102B (allies share)$2.37B/day
Vietnam War (1965-1975)10 years$900 billion
$900B+ incl. veterans$247M/day
WWII U.S. share (1941-1945)4 years$4.69 trillion
Largest in history$3.2B/day
Projecting forward: CBO says $2-3B per additional month and munitions restock takes at least five years. Direct spend at year-end 2026 would land near $50-55B if the fire-pause holds; a return to July intensity pushes it higher. Veteran care over 10-30 years is still the larger bill.
Global Economic Pain by Region
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RegionRisk LevelImpact / Live DataKey Detail
IranCatastrophicGDP -10%+
Infrastructure destroyed, economy in freefall. 1.8M displaced.
Gulf StatesCriticalCalculating...
USD-pegged currencies
Qatar: 40% of world helium on force majeure.
United KingdomCriticalCalculating...
GBP/USD fetching...
First G7 nation in recession. OECD: worst-hit major economy.
Germany & ItalyCriticalCalculating...
EUR/USD fetching...
Energy-intensive manufacturing +30% cost surcharges.
United StatesHighCalculating...
Oil: fetching...
Goldman 30%, Moody's 48.6% recession odds. Gas up $0.98/gal.
Euro ZoneHighCalculating...
EUR/USD fetching...
ECB halted rate cuts. Stagflation warning.
JapanHighCalculating...
JPY/USD fetching...
97% oil imported. BoJ FX intervention.
AustraliaElevatedCalculating...
AUD/USD fetching...
RBA raised rates 0.25pp on Mar 18.
New ZealandElevatedCalculating...
NZD/USD fetching...
75% fuel imports. RBNZ paused rate cuts. Food CPI +4.2% MoM.
IndiaElevatedCalculating...
INR pressure rising
85% oil imported. RBI emergency meeting.
ChinaModerateCalculating...
Diversified energy supply
Diversified energy mix. Suffers via global demand collapse.
Global SouthCriticalCalculating...
Multi-currency weakness
Fuel rationing. Emergency IMF consultations.
Risk levels: currency weakness vs pre-war baseline (Feb 27, 2026), oil price shock, and structural energy import exposure. Data: open.er-api.com, Frankfurter API, and Yahoo Finance. Updates hourly.
Energy Crisis Index by Country
Updates from oil, gas and FX APIs
Sources and Methodology

Cost counter: Pentagon unclassified estimate to Congress via NYT/Bloomberg (Sept 18, 2026): $43.6B through Sept 3 ($28.1B munitions replacement, $11.2B incremental ops, $4.3B lost equipment). CBO (Sept 15): $38B through Aug 1, then $2-3B/month. OMB (June 30): $30B. Early $11.3B first-week figure (Mar 11 SASC / NYT) is retained as the opening-week anchor only. After Sept 3 the live ticker adds CBO midpoint burn (~$82M/day).

Live market data: Yahoo Finance API via allorigins.win/corsproxy.io. Refreshes every 60 minutes. Prices delayed 15-20 min.

Currency rates: open.er-api.com (primary, CORS-enabled, free) with Frankfurter API and proxy fallbacks. GBP, EUR, NZD, AUD, JPY, CHF, INR. Updated hourly.

US Gas & Diesel prices: U.S. EIA open API - weekly national averages. Updated weekly (Mondays).

Fear & Greed index: alternative.me free API - crypto market sentiment. Updated daily.

Energy Crisis Index: 0-100 score per country, refreshed from APIs. Weights: oil shock vs $74 Brent baseline (40%), natural-gas shock vs $3.20/MMBtu (15%), FX weakness vs 27 Feb 2026 (15%), structural oil-import dependence (20%), Hormuz / LNG chokepoint exposure (10%). Live inputs from EIA, Yahoo Finance, metals.live, open.er-api.com and Frankfurter. Not an official IEA or World Energy Council ranking.

War Stress Index model: Weighted market-stress calculation - oil price shock (35%), currency basket weakness (25%), S&P 500 performance (20%), VIX elevation (10%), gold safe-haven premium (10%). Base: 15% pre-war. This is a stress indicator, not a formal recession probability model.

Recession odds: Goldman Sachs (30%), EY-Parthenon/Gregory Daco (40%), Moody's Analytics/Mark Zandi (48.6%), JP Morgan/Bob Michele (25%). Bloomberg Mar 25, CBS News, Fortune Mar 25, 2026.

Historical war costs: Watson Institute at Brown University "Costs of War" project. CRS R40727. All figures adjusted to 2026 USD.

Human cost: UNHCR (displacement), UN Human Rights, UNESCO, Hengaw, AP, Reuters. Civilian casualty figures are estimates and likely undercounts.