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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
Amid a dangerous escalation in the Middle East, Iran launched attacks on Bahrain and Kuwait in retaliation for US airstrikes, according to media reports. The attacks coincided with an Iranian threat to completely halt peace negotiations, as fighting continues in the strategic Strait of Hormuz, through which roughly one-third of global oil supplies transit.
The escalation follows US airstrikes on Iranian positions, prompting Tehran to retaliate against two key US allies in the Gulf. According to market data, oil prices surged sharply after the news, with Brent crude trading above $85 per barrel (close of June 28, 2026), amid fears of supply disruption. Both sides have issued hardline statements, reinforcing the likelihood of continued turmoil.
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Sign InInvestors are closely monitoring the situation in the Strait of Hormuz, as any actual disruption to the shipping lane could trigger a sharp spike in oil prices. On the economic front, no major data releases are expected in the coming days to divert attention from the geopolitical risks, leaving markets at the mercy of breaking news. Volatility is expected to persist in energy markets and Gulf currencies tied to oil.