The USS Gerald R. Ford aircraft carrier strike group is expected to begin heading home from the Middle East in the coming days, a U.S. official confirmed. The Ford has been deployed since last June and has operated in multiple regions, including an extended presence in the Middle East tied to the U.S.-Israeli campaign against Iran.
At a House Armed Services Committee hearing, the Pentagon told lawmakers the Iran war has cost an estimated $25 billion so far. Jules Hurst III, acting undersecretary of war for finances, said most spending has gone to munitions, with additional outlays for operations and equipment replacement. The Defense Department plans a supplemental request through the White House once a full cost assessment is complete. Defense Secretary Pete Hegseth and Chairman of the Joint Chiefs Gen. Dan Caine testified alongside Hurst as part of the Pentagon’s $1.5 trillion budget briefing.
The broader conflict continues to produce wide geopolitical and economic effects. U.S. forces have implemented a naval blockade of Iranian ports and vessels; U.S. Central Command said the blockade has redirected dozens of tankers, denying Iran the sale of millions of barrels of oil and depriving Tehran of an estimated $6 billion-plus in revenue. Officials have also said the blockade gives the U.S. “maximum leverage” over Iran, though it has contributed to sharp disruptions in global shipping and energy markets.
Oil and fuel prices have surged. Brent crude rose above $125 per barrel in early trading amid stalled talks and concerns the Strait of Hormuz remains effectively closed; U.S. benchmark crude topped $109. Gasoline prices in the U.S. hit roughly $4.18 to $4.23 per gallon, up more than $1.20 since the conflict began. European officials estimate the war is costing the EU roughly €500 million ($600 million) per day, straining budgets and heightening the risk of fuel shortages.
Diplomacy remains uneven. Pakistan has continued shuttle diplomacy between Washington and Tehran, and Pakistani leaders say efforts to broker a U.S.-Iran agreement are ongoing. President Trump extended a ceasefire indefinitely to allow more time for negotiations, but direct talks remain limited and mediations have produced intermittent progress. Russia warned the U.S. against new military action in Iran; President Vladimir Putin told President Trump a fresh campaign would carry “damaging consequences.”
On the battlefield and in associated conflicts, Iran and its partners have signaled possible escalatory options. Iranian officials have warned that a prolonged U.S. blockade could prompt “practical and unprecedented military action” and have renewed threats to target other shipping lanes, including the Bab el-Mandeb strait, possibly enlisting allied groups such as Yemen’s Houthi movement. Tehran has also seized some ships it said violated its restrictions. Iranian lawmakers claim Iran retains sufficient missile stockpiles for sustained conflict and insist it will not cede control over the Strait of Hormuz.
Technology and tactics in regional fighting are evolving. Hezbollah has deployed small, fiber-optic-tethered drones — controlled via nearly invisible cables that make them resistant to electronic jamming — against Israeli forces in southern Lebanon and border towns. Experts note such drones are hard to detect and intercept, and can be lethal at close range, driving changes in force protection such as added nets and vehicle cages.
Humanitarian and economic fallout is mounting. A U.N.-backed assessment warned that more than 1.2 million people in Lebanon could face acute hunger between April and August because of the fighting, displacement and economic pressure. Iran’s currency, the rial, plunged to record lows on black-market exchanges amid the blockade and sanctions pressure. The United Nations reported that Iran has executed at least 21 people and arrested more than 4,000 since the war began, citing rights violations.
The International Atomic Energy Agency says most of Iran’s highly enriched uranium likely remains at the Isfahan nuclear complex, which was heavily damaged in past strikes and has not been inspected since June of the previous year; satellite imagery suggests material placed there before earlier attacks may still be in storage. The IAEA continues to seek access to multiple Iranian nuclear sites.
On Capitol Hill, lawmakers pressed the Pentagon for clarity on objectives, timelines and costs. Democrats criticized the administration for engaging in a costly conflict of choice without explicit congressional authorization and sought answers about munitions stockpiles, readiness and civilian casualties — including an ongoing investigation into a deadly strike on an Iranian elementary school that killed more than 165 people, many of them children. Hegseth declined to tie a dollar figure to that strike, saying the investigation remains active.
The U.S. military’s posture in the region remains significant even as a carrier strike group prepares to depart. The administration says it will maintain forces and options in the region as needed. Markets, regional actors and humanitarian agencies are watching for whether the carrier’s movement signals a shift in posture or merely a rotation, and whether diplomacy can translate U.S. leverage into a lasting settlement that reopens critical shipping lanes and eases global energy strains.