President Donald Trump announced on Friday that U.S. Central Command carried out a major bombing raid on Iran’s main crude oil export terminal, Kharg Island, and “totally obliterated every MILITARY target” on what he deemed the nation’s “crown jewel.”
The facility, located about 16 miles off the coast of Iran and about 300 miles from the Strait of Hormuz, handles about 90% of the country’s oil shipments.
US Strikes Iran’s Crown Jewel
In a post on Truth Social, Trump stated that the U.S. possesses the most powerful and sophisticated weapons in the world, but he chose not to destroy the oil infrastructure on the island.
However, he warned that any interference with the free and safe passage of ships through the Strait of Hormuz, a chokepoint for roughly 20% of global oil supply, would prompt a reconsideration of this decision.
“Should Iran, or anyone else, do anything to interfere with the Free and Safe Passage of Ships through the Strait of Hormuz, I will immediately reconsider this decision,” he wrote.
In his post, Trump advised Iran’s military and others associated with the regime to lay down their arms and save what’s left of their country.
In a subsequent post, Trump claimed that Iran had plans to take over the entire Middle East and obliterate Israel, but those plans are now “dead.”
The Hormuz Warning Markets Can’t Ignore
According to J.P. Morgan (NYSE:JPM), a hit to Kharg Island could halt most of Iran’s crude exports and trigger severe retaliation, potentially targeting regional energy infrastructure.
The escalation in the Middle East has sent both energy and fertilizer stocks sharply higher.
In a Fox News Radio interview with Brian Kilmeade aired on Friday, Trump said the U.S. would escort ships through the Strait of Hormuz if needed, adding that the U.S. would strike Iran “very hard over the next week.”
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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