Iran War Updates: Oil prices stay above $100 per barrel as Oman-Iran talks on Strait of Hormuz postponed
Updated on: September 14, 2026 / 10:43 PM EDT / CBS News
TL;DR
- The Iran war cost the Defense Department an estimated $33.4 billion as of June 29.
- This cost includes $22.3 billion for expended munitions, $3.7 billion for lost equipment, and $7.4 billion in incremental costs.
- The war has resulted in strategic inventory shortfalls and revealed industrial base bottlenecks for munitions resupply.
- U.S. military facilities in Kuwait, Bahrain, Qatar, UAE, Saudi Arabia, Iraq, Oman, and Jordan were damaged.
- As many as 30 MQ-9 Reaper drones and four F-15E fighter jets were destroyed, along with other aircraft.
- The State Department incurred $113 million in costs, including diplomatic evacuations.
- Iranian attacks caused about $184 million in damage to U.S. diplomatic posts in Iraq, Kuwait, Saudi Arabia, and the UAE.