(updated) Brent crude oil has increased in price by 2.4%, reaching $87.30 per barrel, which is the highest level since the beginning of the conflict in the Middle East.
This rise followed a statement by Qatar's Minister of Energy Saad al-Kaabi in an interview with the FT, who warned that the war in the region could "collapse the global economy." He noted that all oil-exporting countries in the Persian Gulf could suspend production within weeks, which would raise oil prices to $150.
It has come as a surprise to Congress lawmakers and the general public how much the U.S. government is spending on the current air operation. Preliminary estimates put these costs at $1 billion daily.
According to available information, the Pentagon is preparing an additional request for $50 billion to replace Tomahawk, THAAD, and Patriot missiles that were used in the first seven days of military operations, as well as to restore other equipment damaged due to intensive use in combat conditions.
Congress is already expressing concern about the budget deficit and rising interest on federal debt. The request for an additional $50 billion may provoke serious reconsideration among some lawmakers.
Iran continues to conduct missile and drone attacks in the Persian Gulf, while the U.S. and Israel claim that their operation, codenamed "Operation Epic Fury," is dealing significant blows to Iranian military forces.
According to data from the Center for Strategic and International Studies (CSIS), the costs for the first 100 hours of "Epic Fury" amounted to $3.7 billion, which is equivalent to about $891 million per day.
In Brief:
- Powerful explosions occurred in several areas of Tehran, including residential zones and near Tehran University, as the war continues into its seventh day.
- The Israeli Air Force attacked southern and eastern cities in Lebanon, including Duris in the Bekaa Valley, and shelled southern suburbs of Beirut.
Protests are expected in several Pakistani cities, including Islamabad, after Friday prayers.
The Islamabad police have decided to block most entrances to the Red Zone, where key government institutions and diplomatic missions are located.
Additionally, protests are also expected in Karachi, Quetta, and other cities on the same day.
Last Sunday, the day after the start of U.S.-Israeli attacks in Iran, at least 23 people were killed during protests across the country. Of these, 10 died when protesters attempted to storm the U.S. consulate in Karachi.
Riots also occurred in Gilgit-Baltistan, a region in the north of the country with a high number of Shia Muslims. At least 13 people, including a security officer, were killed, and several offices were set on fire.
A new Supreme Leader of Iran may have already been chosen, but his name has not yet been announced.
Zohreh Kharazmi, an associate professor at Tehran University, denied rumors that eight members of the Iranian Assembly of Experts are boycotting the process of electing a new Supreme Leader, calling it "false."
Kharazmi also hinted that the Supreme Leader may have already been elected but has not yet been announced.
"Preserving the life of the future leader is a very reasonable decision... it is an important aspect of security protocol," she noted in an interview with Al Jazeera from Tehran.
The professor also added that Kurds support Iran, despite reports that Iranian Kurdish military groups may have recently consulted with the U.S. regarding attacks on Iranian security forces in the west of the country.
Yesterday, Iranian forces began an operation against Kurdish groups in their semi-autonomous region in neighboring Iraq.
"I believe this is... political propaganda... The Iranians will suppress them, and I don't think they will be able to do anything," Kharazmi said.
"In Tehran, I observe a high degree of social solidarity and support for the Islamic Republic."
Israeli media report that one person was injured due to falling debris from an intercepted missile in the central part of the country.
The Ministry of Health reported that since the beginning of the conflict with Iran on Saturday, over 1,600 people have received assistance in Israeli hospitals.
As a result of the conflict, 11 people have also died.
Azerbaijan is taking measures to evacuate its diplomats from Iran, as stated by Foreign Minister Jeyhun Bayramov, to ensure their safety.
This step was taken after Baku reported the crossing of the border by four Iranian drones, resulting in injuries to four people in the Nakhchivan exclave.
He also noted that Azerbaijan is beginning the evacuation of staff from its embassy in Tehran and its consulate in Tabriz.
Iran denies accusations of drone attacks.
Internet blackout in Iran has lasted for six days — Netblocks
According to the independent monitoring group NetBlocks, internet access in Iran has been unavailable for six days.
The report states that "in the country at the 144-hour mark, only 1% of the population has access to communication."
Restrictions on internet connectivity are one of the factors that hinder international news organizations from covering events in Iran.
Earlier this year, the Iranian government also shut down the internet amid anti-government protests.
The post War in Iran: Oil Prices Rise, Military Spending Shocks the U.S. What Else is Happening? first appeared on K-News.
