Iran Strikes US Bases in Kuwait, Bahrain After Latest Wave of American Attacks

The Damietta strike signals Egypt's exposure to a widening conflict and suggests the Suez Canal chokepoint could become a target, said Hamish Kinnear, Middle East and North Africa analyst at risk intelligence firm Verisk Maplecroft.

"The expanding geographical range of drone and missile attacks on shipping this year – which encompass the Caspian Sea, Black Sea, Mediterranean Sea, Red Sea, Persian Gulf, and the Indian Ocean – amount to a new era of maritime risk," Kinnear said in a research note Thursday. "The technological developments and targeting strategies pioneered in the cauldron of war in Ukraine and the Middle East are extending maritime risk well beyond established conflict hotspots."

Oil prices fell Friday, extending recent losses, as signs of recovering crude flows through the Strait of Hormuz eased supply fears. Brent crude for September delivery dropped nearly 2% to $87.30 a barrel. U.S. West Texas Intermediate for September fell 2.3% to $81.71.

President Donald Trump said Wednesday he wants Congress to add tariffs on Iran to a bipartisan sanctions bill targeting Russia and Tehran. The duties would have little practical effect since the U.S. imports almost nothing from Iran. Adding them could complicate the bill's path to law.