US-Israel-Iran War: Amid the escalating Middle East conflict, President Donald Trump said that the United States has “obliterated” military targets on Iran’s main oil hub of Kharg Island and warned that the oil infrastructure there could be next. According to Reuters, the island serves as the export terminal for 90 per cent of Iran’s oil shipments.
What Trump warned?
In a social media post, Trump wrote the US military “totally obliterated every MILITARY target” on Kharg while leaving oil infrastructure intact.
“However, 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,” Trump wrote, a warning that could further roil markets already dealing with what the International Energy Agency has called the biggest oil supply disruption in history, Reuters reported.
Iran had no ability to defend against U.S. attacks, the president added. “Iran’s Military, and all others involved with this Terrorist Regime, would be wise to lay down their arms, and save what’s left of their country, which isn’t much!” he said.
Oil prices have been whipsawing on Trump’s changing comments on the likely duration of the Iran war, which has prompted Iran to attack vessels in the strait, the conduit for a fifth of the world’s oil. Although he has previously said the war would last only weeks, the president on Friday declined to publicly project an end date for the conflict, Reuters reported.
“I can’t tell you that,” Trump said to reporters. “I mean, I have my own idea, but what good does it do? It’ll be as long as it’s necessary.”
Kharg Island
Kharg is 16 miles (26 km) from Iran’s coast, about 300 miles (483 km) northwest of the Strait of Hormuz. Iran continued to export crude oil while other producers in the Gulf halted their shipments due to fear of Iranian attacks, Reuters reported.
Multiple very large crude oil tankers were loading at Kharg Island on Wednesday, according to satellite imagery reviewed by TankerTrackers.com. Iran exported between 1.1 million barrels per day and 1.5 million bpd from February 28 when the war began to Wednesday.
Markets will watch closely for any sign the U.S. strikes damaged the island’s intricate network of pipelines, terminals and oil storage tanks. Even minor disruptions could further tighten global supply, adding pressure to an already volatile market, the Reuters report said.
Mojtaba Khamenei vows to keep strait shut
Iran’s new supreme leader, Mojtaba Khamenei, in his first public comments on Thursday, vowed to keep the Strait of Hormuz shut and urged neighbouring countries to close U.S. bases on their territory or risk being attacked themselves, according to Reuters.
Trump said on Friday the US Navy will “soon” start escorting tankers through the Strait of Hormuz, the report added.
European powers are trying to work out how to defend their interests, and France has been consulting with European, Asian and Gulf Arab states over the past week with a view to putting together a plan for warships eventually to escort tankers through the strait, French officials were quoted as saying by Reuters.
