Key insights
- Ten U.S. servicemembers were wounded in an Iranian attack on a Saudi air base, escalating geopolitical tensions in the Middle East. This raises concerns about potential disruptions to oil supply and increased defense spending, creating a risk-off environment for U.S. equities. Negotiations are ongoing, but the situation remains volatile.
Investing.com -- Ten American servicemembers were wounded in an Iranian attack on the Prince Sultan air base in Saudi Arabia on Friday, according to the Wall Street Journal, citing multiple U.S. and Arab officials. Two of the servicemembers are considered seriously wounded, the report noted.
The injured servicemembers were inside a building on the base that was struck in the attack. The attack also damaged multiple U.S. refueling aircraft. At least one missile struck the base, as well as several unmanned aerial vehicles, according to two of the officials.
The missile strike is at least the second to strike the base during the war against Iran. Five refueling aircraft were damaged in an earlier strike.
The attack comes as Saudi and other Gulf countries inch closer to joining the war and take a more aggressive stance against Iran. The U.S. and its allies face a dwindling supply of air defense interceptors after four weeks of war.
President Trump's top Iran envoy Steve Witkoff said the administration plans to meet with Iranian officials this week.
"We are negotiating. It's clear. Some ships are coming through," Witkoff said at a gathering organized in part by the Saudi Arabian sovereign wealth fund. "We think there will be meetings this week. We're certainly hopeful for it."
Witkoff said the 15-point deal, which Iran has had for "a bit of time," requires Iran to stop enriching uranium, to give up the almost 10,000 kilograms of enriched material it has, and to agree to oversight.
"Those are red lines for us," he said. "We can't have a second coming of North Korea in the Middle East. It's totally destabilizing for that region and for the world."
Iran is expected to deliver its response to a U.S. 15-point plan for a potential cease-fire by the end of Friday, mediators said. While some progress has been made, Iranian officials are expected to reject several of the U.S. demands, the mediators said.