Hey there from CNN. I'm David Rind with the five things you need to know for Thursday, May 28th.

You'd be forgiven for forgetting there is technically a ceasefire in place between Iran and the U.S.,

especially after what's been happening over the last 24 hours.

U.S. Central Command said Kuwaiti forces intercepted an Iranian ballistic missile headed for Kuwait overnight.

Iran's Islamic Revolutionary Guard Corps said it targeted an American air base in response to

U.S. strikes, which a U.S. official said targeted Iranian drones and a launch site around the

Strait of Hormuz. All of that to say, a full peace deal does not sound especially imminent.

Sabrina Singh is a former deputy Pentagon Press Secretary and current CNN political and

global affairs commentator.

And when Iran does it, it's considered a breach of the ceasefire.

I think both sides, you know, continue to message to their particular audiences, who is

breaking the ceasefire and when.

But no matter how you cut it, this is putting an immense

pressure on the very fragile deal that is in place and that in exchange of kinetic action

in days to come could further fracture the ceasefire and potentially break it completely.

All right. Coming up, of course, the war continues to put the crunch on the global oil

supply, and that includes America's reserves.

Stick around.

The nation's emergency oil reserve is shrinking fast.

The amount of crude left is nearing its lowest level since the early 1980s.

That's raising new questions about energy security, gas prices, and what happens if another major disruption hits?

CNN's Matt Egan is here.

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