DATA & FIGURES
The US military has completed its 11th night of strikes on Iran, with $37.5bn spent on the war so far. Oil prices have surged to $95.16 a barrel, up 4.6% from the previous day, and 20% this month. The conflict has also sparked a 3% increase in the price of Brent crude.
THE SCENARIO
The US-Iran conflict is part of a broader geopolitical struggle for influence in the Middle East, with Israel, Saudi Arabia, and other regional players involved. The conflict has sparked fears of a wider war, with Yemen's Iranian-aligned Houthis threatening to attack shipping tankers using Saudi Arabian ports, and Donald Trump warning of further retaliation.
DIRECT QUOTE
"From this point forward, any time the Islamic Republic of Iran shoots at a ship in the Strait of Hormuz, whether it be by Missile, Rocket, Drone, or any other device or weapon, the United States will bomb and destroy ONE BRIDGE OR POWER PLANT, including those located next to, or in, the Capital City of Tehran." — Donald Trump, US President
BBN INSIGHT
The escalating conflict between the US and Iran has significant implications for the global economy, with oil prices surging to a six-week high. The conflict also has human costs, with Iranians facing a 'new normal' of airstrikes, repression, and water shortages. The US-Iran conflict is a complex issue, with multiple stakeholders and interests involved, and a diplomatic solution is needed to prevent further escalation.
MARKET REACTION
The price of Brent crude has surged to $95.16 a barrel, up 4.6% from the previous day, and 20% this month. The conflict has also sparked a 3% increase in the price of oil, with investors fearful of the impact on global supply.