Iran Oil Hub Strike Raises Fears of Further Supply Upheaval

A major US attack on the island that exports the bulk of Iran’s crude is raising fears of more widespread supply disruptions in the region, further straining oil and gas markets already in upheaval after two weeks of war in the Middle East.

President Donald Trump said in a post on his Truth Social account on Friday that the US had bombed military targets on Kharg Island in the Persian Gulf, but spared oil infrastructure. He warned Iran’s leaders that he would immediately reconsider that decision if they interfered with ships transiting the Strait of Hormuz.