Iran Shoots Down Drone Near Hormuz, Fueling Oil Supply Fears

Iran’s air defense systems on Qeshm Island at the entrance to the Strait of Hormuz shot down a small hostile drone on Friday, May 29, 2026, state media reported, escalating tensions in the critical oil transit chokepoint. Hours later, air raid sirens sounded across northern Israel. The incident follows fresh US sanctions on Iranian individuals and entities and a White House statement that President Trump would only accept a nuclear deal meeting his terms. Trump earlier threatened to lift a "naval blockage" of the strait and access Iran’s uranium. The UK Maritime Trade Operations on Friday warned that a military blockade of Iranian ports remained in effect, restricting all traffic. With US-Iran messaging ongoing but a ceasefire not yet finalized, the confrontation keeps oil markets on edge over potential supply disruptions through the world’s most important waterway.