Two months into the US-Israel war with Iran, the conflict has led to substantial human and economic tolls. The Pentagon estimates the military campaign has cost approximately $25 billion and resulted in a death toll in Iran ranging from 3,000 to 6,000. The war has significantly impacted global financial markets, particularly through rising oil prices. Brent crude futures jumped from $72.29 per barrel on February 27 to over $100 by mid-March, before fluctuating around $90 as ceasefire hopes temporarily revived. However, renewed fears of disruption in the Strait of Hormuz have pushed prices back up. Equity markets have shown mixed responses; while India's Sensex and European markets have fallen by more than 5%, the US S&P 500 has remained stable, buoyed by technology stocks. Higher oil prices have also affected bond markets, raising inflation expectations and leading to increased borrowing costs across major economies. In India, where over 85% of crude oil is imported, the rupee has depreciated from 91.08 to around 95 per dollar, reflecting the direct economic impact of the war.