# Thousands of people have been killed in the conflict, the vast majority in Iran.

*business · news · 2026-04-10 · Bloomberg Tax News*

## Key points

- The US and Iran have reached an agreement to pause hostilities after six weeks of war.
- Most casualties in the conflict have occurred in Iran and Lebanon.
- The Strait of Hormuz has been effectively closed due to the conflict.
- Closure of the Strait has severely disrupted global oil supply and impacted the world economy.

**Countries:** United States, Iran, Lebanon

[Read the full story on Bloomberg Tax News](https://news.bloombergtax.com/daily-tax-report/the-price-us-consumers-may-pay-for-the-war-with-iran)

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