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Analysis: Iran's Oil Export Hub on Kharg Island Attacked, Oil Price Volatility Could Further Increase

2 hours ago

March 15th: The oil market is bracing for potential sharp swings next week after a U.S. strike on Iran’s key oil export hub, Kharg Island—ramping up concerns over Middle East supply disruptions. U.S. President Trump warned that attacks on energy infrastructure could escalate further if Iran blocks the Strait of Hormuz, while Tehran threatened retaliation against U.S.-linked energy facilities. Brent crude jumped 11% last week, briefly hitting $119.50 a barrel amid escalating tensions. Analysts expect oil price volatility to rise further as the status of Kharg Island remains uncertain. Shipping through the Strait of Hormuz is nearly at a standstill. The waterway handles a large share of global oil shipments; blockages here would squeeze global energy supplies and push fuel prices higher worldwide.
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