Oil Price Rises 60% in March

60%

Financial Times: “Oil prices posted the biggest rise in decades this month as the war in Iran chokes global energy supplies and sends shockwaves across major financial markets and economies. … “Brent crude, the international benchmark, settled at $118.35 on Tuesday, close to its highest level since the start of the conflict in the Middle East, as traders fearing a prolonged shutdown of the Strait of Hormuz rushed to secure cargoes. … The price has risen more than 60 percent in March, eclipsing the previous record gain of 46 percent following Iraq’s invasion of Kuwait in 1990.”

Gas Prices Pass $4/Gallon — Highest Since 2022

+$4

U.S. gas prices jumped past an average of $4 a gallon for the first time since 2022 on Tuesday, as the Iran war pushes fuel prices higher worldwide, reports the Associated Press. According to AAA, the national average for a gallon of regular gasoline is now $4.02 — over a dollar more expensive than before the war began on Feb. 28, marking the largest monthly jump the motor club has seen on record.

Billions Lost in Iran War Already

$1.4 to $2.9 billion

Wall Street Journal: “Billions of dollars of highly sophisticated military equipment has been lost or significantly damaged since the U.S. and Israel began striking thousands of targets across Iran more than three weeks ago. The bulk of the damage on the ground has been caused by Iranian ballistic missiles and drones. … Battle damage and replacement of losses over the first three weeks of the war likely costs roughly $1.4 billion to $2.9 billion.”

The U.S. Is Officially Insolvent

$6.6 trillion vs $47.78 trillion

Fortune: “The U.S. government is insolvent. That’s not hyperbole — it’s the conclusion drawn directly from the Treasury Department’s own consolidated financial statements for fiscal year 2025, released last week to near-total media silence. … The numbers: $6.06 trillion in total assets against $47.78 trillion in total liabilities as of September 30, 2025.”