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Iran's Kharg Island targeted: Crude oil prices fluctuate as 90% of Iran’s exports are at risk.
Amid the ongoing US-Israel strikes against Iran, the strategically important Kharg Island has been targeted, as per local media. The situation at Kharg Island has escalated into a pivotal moment for global energy security. As of April 7, 2026, reports from Iranian media outlet Mehr News indicate that the island—often called Tehran’s "crown jewel"—has been hit by multiple strikes. This follows a high-stakes military campaign, Operation Epic Fury, and comes just hours before a critical deadline set by the Trump administration regarding the Strait of Hormuz.
US-Israeli strikes have hit the key Iranian oil export terminal of Kharg island, media reported Tuesday.
"The American-Zionist enemy has carried out several attacks on Kharg island, and several explosions have been heard there," Iran's Mehr news agency reported.
According to an X post by journalist Barak Ravid of the news site Axios, citing a US official, the US carried out "strikes on military targets" on the island located off Iran's western coast. President Donald Trump has repeatedly threatened nationwide destruction of Iran's civilian infrastructure, and on Tuesday, he said a "whole civilisation" could be wiped out.
However, The New York Times quoted an unidentified White House official saying that the targets on Kharg Island were military. News outlet CNN quoted a US official saying the strikes were against military targets and did not hit oil facilities.
Kharg Island is at the heart of Iran's oil export industry, a lynchpin of the country's battered economy, and lies in the narrow, strategic Hormuz Strait.
It has Iran's largest oil terminal, oil pipelines, storage tanks and related infrastructure. On March 13, the US said it bombed more than 90 military targets on the island, without hitting oil infrastructure.