Why a strike on Iran’s Kharg Island would shake oil markets

Iran’s oil exports hinge on a small outpost in the Persian Gulf: Kharg Island, the loading point for almost all of the country’s crude shipments. The US and Israel have pummeled Iran with airstrikes since Feb 28 and oil shipments from the energy-rich region have slowed dramatically. But Kharg Island appears to have emerged unscathed for now. Israel widened the scope of the bombing campaign to include energy infrastructure when it attacked fuel storage facilities in Tehran on the night of Mar 7. If Kharg Island eventually became a target, the impact would ripple immediately across energy supply chains, with…