Trump calls Strait of Hormuz 'something that we don't need'

The Israeli military continued strikes on Thursday morning in Beirut, where several explosions were reported in the southern part of the city.

The Israel Defense Forces confirmed the strikes in a statement, saying "the IDF continues to strike terrorist infrastructure in the heart of Beirut with intensity."

"Among the targets struck were terrorist infrastructure, weapons storage facilities, central headquarters, and the IRGC Air Force headquarters in Beirut," the IDF said. "So far, approximately 70 terrorist targets have been struck in the Beirut area, including buildings that were used by Hezbollah for terrorist purposes."

-ABC News' Joe Simonetti

Two oil tankers were struck in the port of Umm Qasr near Basra in southern Iraq, leaving one crew member dead, Iraqi officials said.

Another 38 crew members were rescued, according to Lt. Gen Saad Maan, of the Security Media Cell, who confirmed the strikes to Iraqi state media.

Maan, told Al-Iraqiya News, as reported by the Iraqi News Agency (INA), that "two oil tankers were subjected to a cowardly act of sabotage," indicating that "the attack took place within Iraqi territorial waters."

He said six ships were deployed to rescue the crews, stressing that "the government is making an effort to ensure that Iraq does not become a party to the war."

The Department of Energy announced today that it has been authorized by President Donald Trump to release 172 million barrels from the U.S. Strategic Petroleum Reserve, starting next week, in an effort to lower gas and oil prices amid the war in Iran.

"This will take approximately 120 days to deliver based on planned discharge rates," Energy Secretary Chris Wright said in a statement Wednesday.

The statement added that this was part of the International Energy Agency's agreement announced earlier Wednesday to coordinate the release of 400 million barrels of oil.

In an interview with local CBS affiliate WKRC in Ohio earlier Wednesday, Trump said that they would tap into the Strategic Petroleum Reserve in an effort to bring gas and oil prices down.

"Well, we'll do that, and then we'll fill it up. I filled it up once, and I'll fill it up again. But right now, we'll reduce it a little bit, and that brings the prices down," Trump said.

-ABC News' Michelle Stoddart

Pentagon officials told a group of senators in a closed-door briefing on Tuesday that the war in Iran cost at least $11.3 billion in its first six days, three people familiar with the briefing told ABC News.

The New York Times first reported the briefing and the $11.3 billion figure.

Senators on the Defense Appropriations subcommittee received the briefing, a source confirmed. Sen. Chris Coons, the top Democrat on that subcommittee, told reporters on Wednesday that the $11.3 billion estimate he had seen publicly reported was "roughly accurate."

"I expect that the current total operating number is significantly above that," Coons said when pressed on whether that figure took into account things like military buildup.

Coons also said that while the cost per day is not a "steady state," to "assume that it is well above a billion and a half a day I think would be a fair guess."

The money that has so far been spent to fund operations in Iran comes out of Pentagon funds already allocated by Congress. Congress has not yet approved any additional funding for Iran, and lawmakers on both sides of the aisle say that the White House has not yet made a request for supplemental funding.

-ABC News' Allison Pecorin