The Iranian Revolutionary Guard Corps (IRGC) has launched a significant attack during the 18th wave of Operation Nasr 2, targeting the U.S. military infrastructure in Kuwait. Reports indicate that the IRGC Ground Force struck enemy positions at the Arifjan ground support hub, resulting in numerous fatalities. Additionally, a drone attack was carried out that destroyed a radar system at the U.S.’s Ali Al Salem base in Kuwait. This escalation comes amid heightened military tensions in the ongoing 2026 Iran war, which involves the United States and Israel against Iran. The strike is part of a broader Iranian campaign targeting U.S. military assets in the Gulf region.
Key Takeaways
The recent IRGC attacks appear consistent with an increase in the probability of further Iranian military action against Gulf states.
The market for July 18 saw a significant surge, now priced at 87.5% YES, reflecting the recent escalation.
Pricing suggests that the ongoing conflict is likely to see continued retaliation and counter-retaliation actions.
