The U.S. reportedly carried out dozens of strikes on military targets on Iran’s Kharg Island late Monday into Tuesday, according to Reuters, citing Axios and Fox News reporting from senior U.S. officials, as President Trump’s deadline for Iran to reopen the Strait of Hormuz approached.
- Kharg Island is the departure point for roughly 90% of Iran’s crude exports.
- Reported U.S. targets included bunkers, a radar station, and ammunition storage sites.
- President Trump set an 8 p.m. ET deadline for Iran to reopen the Strait of Hormuz or face further strikes.
- Iran rejected ceasefire terms, seeking sanctions relief, guarantees against renewed attacks, and compensation.
- Brent crude traded above $110 per barrel while global equity markets declined amid supply disruption concerns.
Relevant Companies
- Exxon Mobil — higher oil prices can impact upstream revenues and trading activity.
- Chevron — exposure to global crude markets makes it sensitive to supply shocks.
- Shell — global energy operations are directly tied to oil price volatility.
Editor’s Note: This is a developing story. This article may be updated as more detail
