Price of Oil
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How much does war cost and is it worth it? Nobel Prize winning economist weighs in
MSNBC· 2026-03-04 22:15
War is expensive especially in the Middle East. It's last year's bombing campaign in Yemen and somewhere cost somewhere between three and five billion dollars according to estimates from Harvard's Kennedy School. The June strikes on Iran's nuclear facilities cost about two billion dollars and with no clear exit strategy for what is currently happening in Iran, the costs of this war will likely dwarf anything we've seen in a long time.So it is fair to consider as Nobel Prize winning in Iran, what else could ...
All eyes are on Iran-U.S. nuclear talks this weekend after Israel launched an attack
CNBC Television· 2025-06-13 11:36
Geopolitical Implications - Israel launched a sweeping military assault on Iran, striking over 100 targets with over 200 fighter jets [1] - The strike reportedly killed two of Iran's most powerful military figures, including the head of the IRGC, and six Iranian nuclear scientists [2] - Saudi Arabia, the UAE, and Qatar condemned the strikes, expressing concern about regional security [3] - The US may want Iran back at the negotiation table to get a nuclear deal done, potentially impacting talks in Oman [4] Energy Market Impact - Brent crude oil jumped above $75 per barrel due to regional instability [8] - Traders are pricing in the risk of potential disruptions to oil flows across the Gulf [9] - Approximately 20% of the world's oil supply passes through the Strait of Hormuz daily, making it a critical choke point [10] - Regional instability could drive volatility in crude prices [8] Regional Dynamics - Arab states may benefit from the setback to Iran's nuclear ambitions [6] - Israel has been perceived as doing the "dirty work" for Arab states for many years [6] - Gulf states are prioritizing peace and prosperity, focusing on economic development and societal advancement [7]