The USS Gerald R. Ford carrier strike group is set to begin its return from the Middle East in the coming days, a U.S. official confirmed. The Ford, deployed since last June, has operated in several theaters and spent an extended period in the region amid the U.S.-Israeli campaign targeting Iran.
At a House Armed Services Committee hearing, Pentagon officials told lawmakers the conflict with Iran has cost about $25 billion so far. Jules Hurst III, acting undersecretary for war finances, said the bulk of that spending has gone to munitions, with additional funds used for operations and equipment replacement. The Defense Department plans to submit a supplemental funding request through the White House after completing a full cost assessment. Defense Secretary Pete Hegseth and Joint Chiefs Chairman Gen. Dan Caine testified alongside Hurst as part of the Pentagon’s $1.5 trillion budget briefing.
The war’s ripple effects extend widely. U.S. forces have imposed a naval blockade on Iranian ports and vessels; U.S. Central Command reports the blockade has forced dozens of tankers to change course, denying Iran the sale of millions of barrels of oil and costing Tehran an estimated $6 billion or more in revenue. Officials say the blockade provides Washington with “maximum leverage,” but it has also disrupted global shipping and strained energy markets.
Energy prices have spiked. Brent crude traded above $125 per barrel in early sessions amid stalled diplomacy and worries the Strait of Hormuz remains effectively closed; the U.S. benchmark topped $109. U.S. gasoline prices have risen to roughly $4.18–$4.23 per gallon, up more than $1.20 since fighting began. European officials estimate the conflict costs the EU about €500 million (roughly $600 million) per day, increasing the risk of shortages and pressuring national budgets.
Diplomacy has produced uneven results. Pakistan has continued shuttle diplomacy between Washington and Tehran, and its leaders say mediation efforts are ongoing. President Trump extended a ceasefire indefinitely to allow more time for negotiations, but direct talks have been limited and mediations have yielded only intermittent progress. Russia warned the U.S. against further military action; President Vladimir Putin told President Trump that a new campaign would carry “damaging consequences.”
Iran and allied groups have signaled a range of possible escalatory moves. Iranian officials warned a prolonged blockade could trigger “practical and unprecedented military action” and have threatened to target other shipping lanes, including the Bab el-Mandeb strait, possibly involving allied groups such as Yemen’s Houthi movement. Tehran has seized vessels it says violated its restrictions; Iranian lawmakers also assert the country has sufficient missile stockpiles for prolonged conflict and will not relinquish control of the Strait of Hormuz.
Tactics and technology on the battlefield are evolving. Hezbollah has used small, fiber-optic-tethered drones controlled through nearly invisible cables that make them resistant to electronic jamming. Experts say such drones are difficult to detect and intercept and can be lethal at short range, prompting changes to force protection like added nets and armored vehicle cages.
The humanitarian and economic toll is mounting. A U.N.-backed assessment warned more than 1.2 million people in Lebanon could face acute hunger between April and August because of fighting, displacement and economic pressure. Iran’s currency, the rial, plunged to record lows on black-market exchanges amid the blockade and sanctions. The United Nations reports Iran has executed at least 21 people and arrested more than 4,000 since the war began, citing human-rights concerns.
On nuclear monitoring, the International Atomic Energy Agency says most of Iran’s highly enriched uranium likely remains at the Isfahan complex, which was heavily damaged in earlier strikes and has not been inspected since June of last year; satellite imagery suggests some material placed there before prior attacks may still be in storage. The IAEA continues to press for access to multiple Iranian nuclear sites.
On Capitol Hill, lawmakers pressed the Pentagon for clearer objectives, timelines and cost estimates. Democrats criticized the administration for committing to a costly conflict of choice without explicit congressional authorization and sought details on munitions stocks, military readiness and civilian casualties, including an ongoing investigation into a strike on an Iranian elementary school that reportedly killed more than 165 people, many of them children. Secretary Hegseth declined to assign a dollar figure to that specific strike while the investigation remains active.
U.S. military forces remain substantial in the region even as the carrier strike group prepares to leave. The administration says it will retain forces and options as needed. Markets, regional governments and humanitarian organizations are watching closely to see whether the carrier’s departure signals a change in posture or a routine rotation, and whether U.S. leverage can be translated into a diplomatic settlement that reopens shipping lanes and eases global energy pressures.