US-Israel-Iran War News Live Updates: Hit by fuel shortage, Philippines declares yearlong national emergency
US Israel Iran War Live: Philippines has declared a national emergency owing to a fuel shortage due to the escalating situation in West Asia. Philippine President Ferdinand Marcos Jr has said the emergency will last at least a year, reported Al Jazeera.
Iran hit by Israeli strikes, 12 dead: Twelve people were killed and 28 injured in southern Tehran in a fresh air raid by Israel today. On the other side, a fuel tank at the Kuwait International Airport burst into flames after being hit by a drone. Kuwaiti Army has said that it is responding to repeated drone strikes against it.
Story continues below this ad
The attack came even as various news agencies, including The New York Times and AFP, reported US President Donald Trump has sent a 15-point peace plan to Iran. Trump is learnt to have kept the original US demand of “no nuclear programme” at the fore. However, details of the plan are yet to be clarified. JD Vance and Marco Rubio are negotiating the truce talks, reported CNN.
Oil prices dip: Oil prices registered a slight drop on Wednesday, the May futures of benchmark Brent going down just under $98 per barrel. It registered a peak of over $101 per barrel on Tuesday, up nearly 40 per cent since the war began. WTI crude futures were trading at just over $87 per barrel.
Meanwhile, Iran has informed the International Maritime Organization that vessels deemed “non-hostile” can transit the Strait of Hormuz safely, even as tanker traffic through the narrow corridor has largely stalled since last month’s US-Israeli military offensive. In a letter shared with IMO member states on Tuesday, Iran’s Foreign Ministry said non-hostile ships are those that neither take part in nor assist hostile actions against Iran and are not affiliated with the United States or Israel.
The US has agreed “in principle” to talks in Pakistan, according to three Pakistani officials, though mediators are still working to convince Iran.
What are Trump’s five war objectives? | Operation Epic Fury — full explainer
Modi speaks to Trump; Indian LPG carriers cross Hormuz
Prime Minister Narendra Modi spoke to President Trump on Tuesday, discussing the importance of keeping the Strait of Hormuz open, US envoy to India Sergio Gor confirmed. Separately, two Indian LPG carriers, Jag Vasant and Pine Gas, successfully transited the Strait carrying 92,612 MT of LPG, with 60 Indian seafarers onboard, heading to India to bolster domestic energy supplies.
Strait of Hormuz explained | Indians in Gulf
Estimated US War Spend Since Conflict Began $120,000,000,000 ↑ Ticking in real-time · Est. $2,500/sec burn rate · Based on RAND Corp Iraq-war pace model · Baseline: $120B Year-1 floor
US DoD Budget FY25 $895B USASpending.gov · Live
World GDP $105T World Bank · Latest yr
India GDP $3.6T World Bank · Latest yr
5yr War Cost Est. $1–4T RAND · Stimson
Filter:
US DoD FY2025 Budget USASpending.gov
$895B
Iraq + Afghan Wars Total (20yr) US Dept of Defense
$2.2T
Annual Ops Cost — Year 1 RAND Corporation
$50–100B
5-Year Cost: Base Scenario RAND / CBO Models
~$500B
5-Year Cost: Full Escalation Stimson Center
$1T–$4T
World GDP (Latest Year) World Bank Open API
$105T
US GDP (Latest Year) World Bank Open API
$27T
Hormuz: Share of Global Oil US Energy Info. Admin.
20–21%
Oil Price Shock if Hormuz Blocked IEA Energy Security Report
+$40–80/bbl
Global GDP at Risk (extreme shock) IMF World Economic Outlook
−1.5–3%
Global Inflation Surge IMF / Brookings Institution
+2–4pp
India GDP (Latest Year) World Bank Open API
$3.6T
India Oil Import Dependence IEA / Min. of Petroleum
85%
Annual Oil Import Bill Ministry of Petroleum, India
~$140B
Extra War Oil Cost (Year 1) RBI / World Bank India
+$30–50B
India GDP Impact — Oil Stress RBI Energy Stress Model
−0.5–1%
Gulf Remittances at Risk RBI Annual Report 2024
~$40B
Live — Gov API
Fact — verified
Projected — research model
Scenario — extreme case
Live APIs (no key required): USASpending.gov (US DoD FY2025 budget) · World Bank Open Data (GDP — World, US, India). Research: RAND Corp · IMF WEO · IEA · EIA Hormuz Brief · Stimson Center · Brookings · RBI Annual Report 2024. War counter: editorial simulation at RAND Iraq-war burn rate ($2,500/sec).
Also Read:
The Indian Express Global Desk remains committed to rigorous verification. Follow our live blog below for real-time tracking of Operation Epic Fury, regional airspace status, and diplomatic efforts to contain the escalation.
Live Updates
