IRGC Strikes US Airbase in Kuwait While Iran Deal Sits Unsigned: Oil Spikes 3%, What Happens Next

# IRGC Strikes US Airbase in Kuwait While Iran Deal Sits Unsigned: Oil Spikes 3%, What Happens Next

> **Quick answer:** Iran's IRGC struck a US airbase in Kuwait at 4:50am local time on Thursday, May 29, 2026, hours after the US destroyed a drone control station near Bandar Abbas Airport. A 60-day ceasefire extension deal has been agreed by negotiators on both sides but remains unsigned by President Trump, who says he wants "a couple more days to think." Brent crude surged 3% to $97.29 and WTI rose 3.42% to $91.71, wiping out all of last week's peace-signal drop in a single session.

Bombs fell while diplomats shook hands on paper. The IRGC strikes US airbase in Kuwait on May 29 as Iran deal talks sit in an unsigned limbo — a contradiction that is now the defining risk for oil markets heading into the US open. Here is what happened, what the numbers mean, and the three scenarios markets are pricing.

## What Happened: A Night of Escalating Strikes

The sequence unfolded rapidly in the pre-dawn hours of Thursday, May 29.

**Wednesday night:** US forces conducted what a Washington official described as "defensive strikes" against an Iranian drone operation near Bandar Abbas Airport in southern Iran, destroying a ground control station. CENTCOM also intercepted five one-way attack drones in and around the Strait of Hormuz.