Crude Awakening

The Iran war is continuing to rattle markets and Uncle Sam’s piggy bank.

The Pentagon told Congress Tuesday that Uncle Sam’s Iran war tab hit ~$25B. Oil topped $126/barrel yesterday (a four-year high) as top brass briefed President Trump on next moves, and markets braced for a long Strait of Hormuz blockade.

Pentagon officials say the spending keeps the Strait open and global commerce flowing. Critics counter that the war’s price tag and open-ended timelines threaten to swamp domestic priorities. 

In a separate jolt, the United Arab Emirates said Wednesday it’s leaving the Organization of Petroleum Exporting Countries (OPEC)—the cartel’s biggest defection in decades—citing production caps that don’t fit.

A Saudi adviser shrugged off the UAE’s exit, saying ”one country going out doesn’t mean anything,” but analysts warn more defections could follow.

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Verse to consider when international conflict feels unending… “Some take pride in chariots, and others in horses, but we take pride in the name of the LORD our God. They collapse and fall, but we rise and stand firm.” 
Psalm 20:7-8 (CSB) (read full passage)