Iran has conducted repeated missile and drone strikes on Bahrain since mid-2026, primarily targeting sites linked to the U.S. Fifth Fleet naval base, as part of tit-for-tat escalation with Washington over Strait of Hormuz navigation and broader Gulf security. Bahrain, which hosts major U.S. military facilities and has cooperated with U.S. operations, has intercepted hundreds of Iranian projectiles while condemning the attacks as sovereignty violations. Tehran has issued formal warnings that it will respond to any future use of Bahraini territory or airspace for strikes against Iran, framing such actions as justification for further retaliation. Diplomatic efforts to stabilize the region, including interim arrangements on Hormuz passage and de-escalation talks, remain active amid ongoing U.S.-Iran friction, with trader assessments reflecting uncertainty over whether fresh Iranian targeting will occur before key deadlines.