India, April 30 -- Two months after the US-Israel war with Iran began on February 28, the human and fiscal costs are already substantial. The death toll in Iran alone is estimated at between 3,000 and 6,000, while the US military campaign has cost about $25 billion so far, according to the Pentagon's first official estimate. The economic costs, however, have extended far beyond the battlefield, rippling through oil prices, stock markets, bond yields and currencies. Here is a look at the war's impact so far on global financial markets and the economy.

Brent crude futures rose almost immediately after the conflict began, climbing from $72.29 a barrel on February 27, a day before the war started, to above $100 by mid-March. Prices cooled in...