The Liberty Daily 
(Zero Hedge)—An Iranian Fateh-110 short-range ballistic missile targeted Kuwait’s Ali Al Salem Air Base, a key operational hub for the U.S. Air Force’s expeditionary forces in the Gulf region.
An initial report from Bloomberg News indicates that Kuwaiti air defenses intercepted the tactical ballistic missile in the last 24 hours, but falling debris struck part of the base, injuring five Americans and damaging one MQ-9 Reaper drone while severely damaging another.
About five people, including both contractors and active duty personnel, suffered minor injuries, the person said. One Reaper was destroyed and at least one other was seriously damaged. -BBG
News of the strike on ASAB, where the 386th Air Expeditionary Wing under U.S. Air Forces Central acts as a forward logistics, airlift, and combat-power gateway for the broader CENTCOM theater, comes as the US and Iran on Friday reached a tentative memorandum of understanding to extend a ceasefire by 60 days and restart nuclear negotiations. However, the proposal still requires final approval from President Trump, according to U.S. officials cited by Fox News.
Treasury Secretary Scott Bessent also indicated yesterday that Washington is maintaining maximum leverage, saying sanctions relief will remain off the table unless Tehran reopens the Hormuz chokepoint, transfers highly enriched uranium, and accepts that it cannot maintain a nuclear program.
Meanwhile, Secretary of War Pete Hegseth attended the Shangri-La Dialogue in Singapore overnight, where he said the US military is prepared to resume strikes against Iran if negotiations over the nuclear program collapse.
“Any deal will be a good one. A great one,” Hegseth said Trump told him. “And if Iran doesn’t want to make a great deal that ensures they don’t get a nuclear weapon, they can deal with the guy on my left,” he added, referring to the War Department.
“We are more than capable,” Hegseth noted in reference to a renewed military strike against Tehran. “Our stockpiles are more than suited for that, both there and around the globe.”
Hegseth’s remarks came just hours after Trump met with officials in the White House Situation Room to discuss the next phase of negotiations with Iran.
“The Situation Room meeting has concluded and lasted approximately two hours. President Trump will only make a deal that is good for America and satisfies his red lines. Iran can never possess a nuclear weapon,” a White House official said in a statement issued late Friday.
Iran’s Foreign Ministry commented on the memorandum of understanding between the two nations, stating that nothing has been finalized yet.
News of progress toward a peace deal comes as energy experts warn of an energy cliff that could emerge as soon as next month if the Hormuz chokepoint remains closed.
It’s clear that inventories, floating storage, rerouted cargoes, emergency substitutions, and rationing have absorbed the initial shock of lost Gulf-area crude, offsetting the roughly 10 million barrels of oil that weren’t reaching their intended destinations each day. Additionally, daily headlines have pushed Brent crude futures to $91 per barrel by Friday afternoon.
But as we’ve warned, if the Hormuz chokepoint doesn’t reopen in the near term, crude oil could soon be aggressively repriced higher, as those inventories are being drained at an alarming rate.
