Key facts
- US forces intercepted Iranian missile and drone attacks in the Persian Gulf.
- Six ballistic missiles fired at Bahrain and Kuwait were intercepted.
- A seventh missile did not reach its intended target.
- The conflict is nearing its 100-day mark with no resolution in sight.
- Oil markets are skeptical of President Trump's peace narrative regarding Iran.
American forces intercepted Iranian missile and drone attacks in the Persian Gulf as the conflict, which began nearly 100 days ago, continues with no resolution in sight. US Central Command reported on X that six ballistic missiles fired at Bahrain and Kuwait were intercepted, and a seventh did not reach its intended target. This comes amid stalled peace talks and a general skepticism from oil markets regarding President Trump's narrative of peace with Iran. The markets are unconvinced that Trump's statements will lead to a de-escalation of tensions. The ongoing stalemate suggests that geopolitical risks impacting oil supply are likely to persist.