Iran strikes US bases, Gulf on edge as oil prices surge amid widening conflict

Fresh strikes, missile attacks and growing concerns over the Strait of Hormuz have intensified the US-Iran crisis, with global energy markets closely watching developments

PGurus Newsdesk

June 3, 2026

The Middle East remains on edge as Iran targets US positions, oil prices climb and military tensions spread across the Gulf region and Lebanon

Missile attacks, fresh military strikes and fears over the Hormuz are intensifying concerns about regional stability and global energy supplies

The conflict involving the United States, Iran and Israel intensified further on Wednesday, with missile attacks, military strikes and growing concerns over global oil supplies adding to instability across the Middle East.

Iran’s Islamic Revolutionary Guard Corps (IRGC) claimed responsibility for missile attacks targeting American military bases in Kuwait, describing the operation as retaliation for recent US strikes on Iran’s Qeshm Island.

According to the IRGC, its Aerospace Force launched a series of “precise and concentrated” missile strikes against US military positions. Tehran also warned Washington that any further military action would trigger a significantly stronger response.

“The era of hit-and-run has ended, and the aggressor forces must bear the consequences of their reckless actions,” the IRGC said in a statement.

Gulf region witnesses fresh security scare

Despite Iran’s claims, both the United States and Kuwait said the attacks failed to inflict major damage.

Kuwait’s military stated that its air defence systems successfully intercepted incoming missiles and drones, while US Central Command (CENTCOM) said none of the missiles reached their intended targets. The US military also reported intercepting another wave of Iranian drones before they could strike American positions in Kuwait.

Officials confirmed that no US personnel were injured and no military assets were damaged during the attacks.

The latest escalation also saw reports of explosions in several parts of the Gulf region, including Kuwait, Bahrain, Iraq and Erbil. Air raid sirens sounded across Bahrain, prompting authorities to advise residents to seek shelter as a precautionary measure.

Kuwaiti officials urged citizens to avoid any debris from intercepted projectiles and rely solely on official information channels.

US defends military action against Iran

The current round of tensions follows recent US airstrikes on Iranian radar and drone facilities.

Washington said the strikes were conducted in self-defence after Iranian actions threatened American interests and regional security. CENTCOM later confirmed additional strikes on facilities located on Iran’s Qeshm Island following what it described as attempted attacks against neighbouring countries and US forces.

Strait of Hormuz remains critical flashpoint

The Strait of Hormuz continues to be at the centre of international concern, given its importance as one of the world’s busiest oil shipping routes.

US Secretary of State Marco Rubio told lawmakers that any sanctions relief under discussion with Iran relates solely to its nuclear programme and is not linked to reopening the Strait of Hormuz.

Meanwhile, the United Nations Trade and Development agency warned that prolonged disruption to shipping through the waterway could increase global oil import costs by up to $20 billion, with developing economies expected to bear the greatest burden.

Oil prices rise amid uncertainty

The growing instability in the Gulf pushed oil prices higher, reflecting concerns over possible disruptions to global energy supplies.

Brent crude rose above $97 per barrel, while US West Texas Intermediate crude approached $95 per barrel as traders assessed the risk of further escalation.

Nuclear programme and regional conflict remain key concerns

International Atomic Energy Agency Director General Rafael Grossi said several nuclear-related activities in Iran have slowed or stopped, a development that could influence future diplomatic negotiations.

Separately, the US military reported intercepting a Botswana-flagged oil tanker that was allegedly attempting to move toward Iran’s Kharg Island, adding another layer of tension to the maritime security situation.

At the same time, fighting between Israel and Hezbollah continues to intensify. Israeli strikes in southern Lebanon reportedly killed six people, including two children, while a Hezbollah drone attack injured four Israeli soldiers near the border.

With military activity expanding across multiple fronts, governments and financial markets worldwide remain focused on developments surrounding the US-Iran confrontation, energy security and the future of Iran’s nuclear programme.

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