U.S. and Iran Exchange Attacks as Hopes for Hormuz Deal Fade

28 May 2026

The United States and Iran expanded military attacks on Thursday, raising market doubts about a possible deal to secure peace in the Strait of Hormuz, a strategic route for the global transport of oil.

The U.S. armed forces carried out new attacks against Iran, this time targeting a military installation in Bandar Abbas, a port city considered strategic, according to a source cited by Reuters. It was the second American attack in three days, under the justification of self-defense.

In response, the Islamic Revolutionary Guard Corps (IRGC) said it had struck a U.S. air base, without providing details about its location.

Iran also expressed solidarity with Oman after ‘threats from American authorities,’ said the Foreign Ministry spokesperson, Esmaeil Baghaei, in a statement on Thursday.

Prior to that, U.S. President Donald Trump said that no nation would control the Strait of Hormuz.

The renewed exchange of attacks threatens a ceasefire already considered fragile between the U.S. and Iran and reinforces fears of disruptions to the region’s main maritime route for exporting oil.

(With Reuters and Bloomberg)

James Whitmore

James Whitmore

I am a financial journalist specialising in global markets and long-term investment strategies, with a background in economics and corporate finance. My work focuses on translating complex financial data into clear, actionable insights for private investors and professionals. At Wealth Adviser, I contribute in-depth analysis on equities, macroeconomic trends, and portfolio construction.