Oil Prices Rise After Trump Claims U.S. “Totally Demolished” Iran’s Kharg Island


Global oil prices surged after U.S. President Donald Trump announced that American forces had “totally demolished” military targets on Kharg Island, one of Iran’s most important oil export facilities. The island handles about 90% of Iran’s crude oil exports, making it a critical hub for the country’s energy industry and global oil supply.

Following the announcement, international oil markets reacted immediately. Brent crude oil prices rose above $104–$106 per barrel, while U.S. West Texas Intermediate crude also climbed past $100 per barrel, reflecting fears that the conflict could disrupt global energy supplies. Traders worry that any further attacks on oil infrastructure in the Persian Gulf could reduce exports from the region and push prices even higher. 

The strike on Kharg Island is part of the widening 2026 conflict between the United States, Israel, and Iran. Although U.S. officials said the strikes targeted Iranian military installations rather than oil facilities, the attack increased tensions in the region and raised concerns about the security of shipping routes in the Strait of Hormuz, through which about 20% of the world’s oil supply normally passes. Disruptions there could trigger a global energy crisis. 

Meanwhile, Washington has asked several countries to help secure the Strait of Hormuz and protect oil tankers from attacks. Some allies are considering naval deployments, while others remain cautious about joining the escalating conflict. Analysts warn that if the war spreads or Iran retaliates by blocking oil shipments, the world could face even higher fuel prices, inflation, and economic instability. 

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