Kuwait formally accused Iran of a hostile act today following an armed infiltration by the Islamic Revolutionary Guard Corps (IRGC). The Interior Ministry arrested four IRGC-affiliated individuals who attempted to enter the country by sea. One Kuwaiti security officer was injured during the confrontation.
Geopolitical tensions intensified following the U.S. rejection of an Iranian peace proposal. President Trump described the potential ceasefire as being on life support.
Brent crude futures rallied above $105 per barrel as energy markets reacted to the regional instability. The Middle East accounts for approximately one-fifth of all traded oil worldwide. Investors remain concerned that further conflict could disrupt the critical Strait of Hormuz.