BlockBeats News, July 22nd. The US-Iran conflict continues to escalate, with the US launching airstrikes against Iran for the 11th consecutive night, driving up the cost of war. US Defense Secretary Haggerse has stated that the US government has already allocated at least $37.5 billion for the Iran war, and if military operations continue, an additional amount close to double may be needed in the coming months.

Reports indicate that some US officials had previously estimated that when factoring in costs such as repairing damaged military bases, total US war expenditures may have reached $80 to $100 billion.

Simultaneously, military actions by both the US and Iran are expanding. The US Central Command has stated that the latest round of airstrikes targeted Iranian aircraft hangars, drone storage facilities, aiming to weaken Iran's ability to threaten navigation in the Strait of Hormuz. Iran, on the other hand, has announced a new round of attacks on US facilities in Jordan, Bahrain, and Kuwait.

The escalating conflict is also impacting the global energy market. Due to the significant disruption in the Strait of Hormuz navigation, oil and gas prices continue to rise. Meanwhile, Iran-backed Houthi rebels in Yemen have declared a maritime blockade against Saudi Arabia, further increasing risks along the Red Sea trade route, leading many ships to adjust their courses.

Analysts believe that as the US faces higher fiscal expenditure domestically, rising energy prices, and additional US military casualties, the political pressure on the Trump administration to end the conflict is mounting. Currently, US Secretary of State Pompeo has stated that the US remains committed to a diplomatic solution, but questions Iran's sincerity in engaging in negotiations.