{"id":127641,"date":"2026-05-28T14:47:39","date_gmt":"2026-05-28T10:47:39","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=127641"},"modified":"2026-05-28T14:47:49","modified_gmt":"2026-05-28T10:47:49","slug":"u-s-and-iran-trade-strikes-again-kuwait-base-hit-as-peace-deal-evaporates-and-oil-surges","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/u-s-and-iran-trade-strikes-again-kuwait-base-hit-as-peace-deal-evaporates-and-oil-surges\/05\/28\/market-updates\/","title":{"rendered":"U.S. and Iran Trade Strikes Again: Kuwait Base Hit as Peace Deal Evaporates and Oil Surges"},"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>Direct military exchange:<\/strong> The U.S. struck targets near Bandar Abbas; Iran&#8217;s IRGC retaliated by hitting a U.S. military base in Kuwait.<\/li>\n\n\n\n<li><strong>Kuwait defends against attacks:<\/strong> Kuwaiti authorities confirmed defending against drone and missile strikes.<\/li>\n\n\n\n<li><strong>U.S. downs Iranian drones:<\/strong> Reuters reported the U.S. military shot down four Iranian attack drones and hit a ground control station in Bandar Abbas.<\/li>\n\n\n\n<li><strong>&#8220;Self-defense&#8221; claim:<\/strong> The U.S. military maintained the ceasefire remains in place and described the attacks as defensive.<\/li>\n\n\n\n<li><strong>Trump rejects Hormuz deal:<\/strong> The president dismissed reports of an Iran-Oman joint management arrangement, saying no single country can control the strait.<\/li>\n\n\n\n<li><strong>&#8220;Not satisfied yet&#8221;:<\/strong> Trump signaled Iran wants a deal but he isn&#8217;t happy with the terms yet.<\/li>\n\n\n\n<li><strong>Nuclear gap persists:<\/strong> U.S. officials maintained Iran cannot develop a nuclear weapon; the draft framework made no mention of enriched uranium.<\/li>\n\n\n\n<li><strong>Iranian draft deal revealed:<\/strong> Reports showed Tehran would restore Hormuz shipping within a month under the framework, with Iran and Oman jointly managing traffic.<\/li>\n\n\n\n<li><strong>Blockade would lift:<\/strong> The framework reportedly included Washington lifting its naval blockade of Iranian ports.<\/li>\n\n\n\n<li><strong>Oil surges 2.6%:<\/strong> Crude recouped some of the week&#8217;s deep losses but remains more than 20% above pre-war levels.<\/li>\n\n\n\n<li><strong>Lebanon fighting continues:<\/strong> Israeli hostilities against Hezbollah in southern Lebanon kept broader Middle East tensions elevated.<\/li>\n\n\n\n<li><strong>Hormuz still vital:<\/strong> The strait carries roughly a fifth of global oil \u2014 its continued closure remains the key market concern.<\/li>\n<\/ul>\n\n\n\n<p>The United States and Iran reportedly traded air strikes on Thursday, sending oil prices higher just hours after President Donald Trump downplayed expectations that a deal to reopen the Strait of Hormuz was close.<\/p>\n\n\n\n<p>The U.S. military struck targets near the Iranian city of Bandar Abbas earlier in the day, drawing retaliatory measures from Iran&#8217;s Islamic Revolutionary Guard Corps (IRGC), media reports said.<\/p>\n\n\n\n<p>The IRGC said it had struck a U.S. military base in Kuwait as retaliation for the Bandar Abbas attacks. Separately, Kuwaiti authorities said they were defending against drone and missile attacks.<\/p>\n\n\n\n<p>Reuters reported that the U.S. military shot down four Iranian attack drones and hit a ground control station in Bandar Abbas.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Ceasefire on the Brink<\/h2>\n\n\n\n<p>The attacks marked a potential resumption in open hostilities between the United States and Iran, especially after Tehran had warned of retaliation following U.S. strikes earlier this week.<\/p>\n\n\n\n<p>The U.S. military claimed that the attacks were carried out in &#8220;self-defense&#8221; and that a ceasefire with Iran remained in place.<\/p>\n\n\n\n<p>Thursday&#8217;s attacks came shortly after Trump dismissed a report that Iran and Oman would manage shipping through the Strait of Hormuz under a proposed deal to end the war. Trump also indicated that Iran wanted to make a deal, but that he was not satisfied with the agreement as currently structured.<\/p>\n\n\n\n<p>The fresh military action, coupled with Trump&#8217;s comments, indicated that a peace deal to end the war and reopen the strait \u2014 a vital waterway through which a fifth of the world&#8217;s oil transits \u2014 remained elusive.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Draft Deal and Its Limitations<\/h2>\n\n\n\n<p>Iranian media had reported on Wednesday that an unofficial draft of a peace deal said that Tehran would restore commercial shipping through the Strait of Hormuz to pre-war levels within a month, and that Iran and Oman would jointly manage traffic through the channel.<\/p>\n\n\n\n<p>The framework deal \u2014 which a host of reports said was close to being agreed on by both sides \u2014 would also see Washington lift its blockade of Iranian ports, local media reported.<\/p>\n\n\n\n<p>But Trump largely dismissed the report, stating that no single country could control Hormuz. U.S. officials also maintained their stance that Iran cannot be allowed to develop a nuclear weapon, with reports on the framework deal making no mention of the country&#8217;s enriched uranium stockpile.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Oil Rebounds, Region Remains on Edge<\/h2>\n\n\n\n<p>Oil prices were last higher by 2.6% following Thursday&#8217;s attacks, recouping a measure of the deep losses seen over the past week, but staying more than 20% above levels seen before the start of the conflict in late February.<\/p>\n\n\n\n<p>Separately, Israeli hostilities against Hezbollah forces in southern Lebanon also continued, keeping broader tensions across the Middle East elevated.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Direct military exchange: The U.S. struck targets near Bandar Abbas; Iran&#8217;s IRGC retaliated by hitting a U.S. military base in Kuwait. Kuwait defends against attacks: Kuwaiti authorities confirmed defending against drone and missile strikes. U.S. downs Iranian drones: Reuters reported the U.S. military shot down four Iranian attack drones and hit a ground &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-127641","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\/127641","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=127641"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/127641\/revisions"}],"predecessor-version":[{"id":127642,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/127641\/revisions\/127642"}],"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=127641"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=127641"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=127641"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}