US attacks Iran's main oil export hub and offers safe passage for tankers

The United States military bombed Kharg Island, which is Iran's primary oil export terminal. President Trump said the strikes targeted military sites on the island and warned Iran against disrupting oil shipments through the Strait of Hormuz.

Iranian officials said their oil infrastructure was not damaged and vowed retaliation. They have effectively closed the Strait of Hormuz to shipping, a critical waterway for global oil transport. In response, Trump pledged the U.S. would escort and insure oil tankers to ensure safe transit.

The conflict has caused significant volatility in global oil markets, with prices surging. To help stabilize supplies, the U.S. issued a 30-day license allowing the purchase of Russian oil that was stranded at sea. OPEC+ agreed to a modest increase in oil output despite the ongoing disruptions.