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

Iran War Updates: Oil prices stay above $100 per barrel as Oman-Iran talks on Strait of Hormuz postponed

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.