Iran and U.S. exchange strikes near Strait of Hormuz

Iranian forces fired a ballistic missile toward Kuwait and launched five attack drones over the Strait of Hormuz overnight. U.S. forces intercepted all five drones. Kuwaiti forces shot down the ballistic missile at 10:17 p.m. ET.

Sequence of strikes U.S. forces also struck an Iranian ground control station near Bandar Abbas to prevent a sixth drone launch. Iran’s Islamic Revolutionary Guard Corps said it targeted a base used by U.S. forces at 4:50 a.m. local time in response to the earlier U.S. attack. Kuwait’s military confirmed its air defenses responded to an enemy attack on Thursday.

Statements from both sides Iran’s foreign ministry spokesman said Tehran would take all necessary measures to defend its national sovereignty.

“Following this morning’s aggression by the invading U.S. military against a location on the outskirts of Bandar Abbas Airport using aerial projectiles, the American air base that served as the source of the attack was targeted at 4:50 am (0120 GMT)." — IRGC statement via IRIB, May 28, 2026 Officials on both sides described the events as violations of an existing ceasefire but stopped short of declaring it collapsed.”

Market reaction Oil prices rebounded after the escalation.

U.S. crude futures gained more than 3 percent while broader stock indexes fell.