Tensions between the US and Iran escalated as Iran's Revolutionary Guard targeted a US airbase in retaliation for US military strikes near the Strait of Hormuz. The US military had previously shot down four Iranian drones and attacked a ground control station in Bandar Abbas, which was preparing to launch another drone. President Donald Trump dismissed a report suggesting he was nearing a compromise with Tehran and issued a stark warning to Oman, threatening to 'blow up' the nation if it does not comply with US expectations. In the wake of these developments, oil prices rebounded after a significant drop of over five percent earlier in the week, with US crude futures gaining more than three percent. Additionally, Kuwait, which hosts a substantial US military base, acknowledged responding to missile and drone threats, while Israel reported activating sirens due to hostile aircraft activity. The situation remains precarious as both nations navigate this volatile landscape.