{"id":127635,"date":"2026-05-28T10:21:00","date_gmt":"2026-05-28T06:21:00","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=127635"},"modified":"2026-05-28T09:21:41","modified_gmt":"2026-05-28T05:21:41","slug":"war-reignites-iran-strikes-u-s-airbase-in-kuwait-as-peace-deal-hopes-collapse-and-oil-surges-4","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/war-reignites-iran-strikes-u-s-airbase-in-kuwait-as-peace-deal-hopes-collapse-and-oil-surges-4\/05\/28\/market-updates\/","title":{"rendered":"War Reignites: Iran Strikes U.S. Airbase in Kuwait as Peace Deal Hopes Collapse and Oil Surges 4%"},"content":{"rendered":"\n<h1 class=\"wp-block-heading\"><\/h1>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Key Takeaways<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Crude rockets higher:<\/strong> Brent surged 3.8% to $97.83 per barrel, while WTI jumped 4% to $92.26 \u2014 recouping a bulk of this week&#8217;s sharp losses.<\/li>\n\n\n\n<li><strong>Iran hits U.S. airbase:<\/strong> Iran&#8217;s Revolutionary Guard confirmed strikes on a U.S. airbase in Kuwait in retaliation for American attacks on Bandar Abbas.<\/li>\n\n\n\n<li><strong>Kuwait under attack:<\/strong> Kuwait said it was defending against missile and drone attacks but did not specify the source.<\/li>\n\n\n\n<li><strong>Open hostilities resume:<\/strong> The exchanges marked a return to direct military action despite repeated U.S. claims that a ceasefire remained in place.<\/li>\n\n\n\n<li><strong>U.S. framed strikes as &#8220;self-defense&#8221;:<\/strong> Washington attacked Iran earlier this week under that justification.<\/li>\n\n\n\n<li><strong>Trump dismisses deal:<\/strong> The president rejected reports that Iran would reopen Hormuz within a month and signaled dissatisfaction with the current peace framework.<\/li>\n\n\n\n<li><strong>Joint Hormuz control rejected:<\/strong> Trump stated no single country can control the channel \u2014 dismissing the Iran-Oman joint oversight proposal.<\/li>\n\n\n\n<li><strong>Nuclear and Hormuz divides persist:<\/strong> Both sides remain at odds over Tehran&#8217;s nuclear activities and long-term Hormuz arrangements.<\/li>\n\n\n\n<li><strong>Ships trickling through:<\/strong> A steady but minimal flow of vessels continues to cross Hormuz, far below pre-war levels.<\/li>\n\n\n\n<li><strong>20% of global oil still disrupted:<\/strong> Hormuz&#8217;s closure continues to remove a fifth of global crude supply from the market.<\/li>\n\n\n\n<li><strong>Wednesday&#8217;s crash reversed:<\/strong> Oil had plunged sharply on peace deal optimism \u2014 now reversed as hostilities resume.<\/li>\n<\/ul>\n\n\n\n<p>Oil prices rose sharply during Asian trading on Thursday after the United States and Iran traded air strikes amid rapidly waning hopes that a peace deal was close.<\/p>\n\n\n\n<p>Crude recouped a bulk of its recent losses, following earlier reports that Iran could reopen the Strait of Hormuz within a month.<\/p>\n\n\n\n<p>Brent oil futures for July surged 3.8% to $97.83 a barrel by 00:16 ET (04:16 GMT), while West Texas Intermediate crude futures jumped 4% to $92.26 per barrel.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">U.S. and Iran Trade Strikes; Trump Dismisses Deal Hopes<\/h2>\n\n\n\n<p>Iran&#8217;s Revolutionary Guard confirmed it had struck a U.S. airbase in Kuwait, in retaliation for American attacks on Bandar Abbas earlier in the day.<\/p>\n\n\n\n<p>Separately, Kuwait said it was defending against missile and drone attacks, but did not specify the source of the attacks.<\/p>\n\n\n\n<p>The attacks marked a resumption in open hostilities between the United States and Iran, despite repeated claims by Washington that a ceasefire remained in place.<\/p>\n\n\n\n<p>The U.S. had attacked Iran earlier this week and framed the move as &#8220;self-defense.&#8221;<\/p>\n\n\n\n<p>Thursday&#8217;s attacks came shortly after U.S. President Donald Trump dismissed reports that Iran would reopen commercial shipping through the Strait of Hormuz within a month.<\/p>\n\n\n\n<p>Trump later signaled that he was not yet satisfied with a peace deal with Iran.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Peace Deal Optimism Rapidly Unravels<\/h2>\n\n\n\n<p>Crude prices had fallen sharply on Wednesday, and were also nursing deep losses this week amid bets that a U.S.-Iran peace deal was close.<\/p>\n\n\n\n<p>But Trump&#8217;s comments on Wednesday indicated that a deal was not as close as markets had been pricing in over the past week.<\/p>\n\n\n\n<p>While U.S. officials did offer some optimistic comments on negotiations with Iran over the past week, both sides still remained at odds over Tehran&#8217;s nuclear activities and the Strait of Hormuz.<\/p>\n\n\n\n<p>Reports over the past week showed a steady trickle of ships passing through Hormuz. But flows still remained at a fraction of pre-war levels, with Hormuz&#8217;s closure continuing to disrupt about a fifth of global oil supplies.<\/p>\n\n\n\n<p>Trump also rejected the notion of Iran and Oman jointly controlling Hormuz, stating that no single country could control the channel.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Crude rockets higher: Brent surged 3.8% to $97.83 per barrel, while WTI jumped 4% to $92.26 \u2014 recouping a bulk of this week&#8217;s sharp losses. Iran hits U.S. airbase: Iran&#8217;s Revolutionary Guard confirmed strikes on a U.S. airbase in Kuwait in retaliation for American attacks on Bandar Abbas. Kuwait under attack: Kuwait said &hellip;<\/p>\n","protected":false},"author":9,"featured_media":60920,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,6827,49,37,36],"tags":[],"class_list":["post-127635","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-daily-economic-reports","category-economic-reports","category-forex-markets","category-market-updates"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/127635","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=127635"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/127635\/revisions"}],"predecessor-version":[{"id":127636,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/127635\/revisions\/127636"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/60920"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=127635"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=127635"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=127635"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}