Washington, DC – Global oil prices surged on Tuesday, marking a sharp increase immediately following the announcement of a US airstrike targeting strategic military facilities on Kharg Island in the Persian Gulf.
After a period of market uncertainty awaiting the expiration of President Donald Trump’s deadline for retaliation against Tehran, the price of West Texas Intermediate (WTI) crude, the US benchmark, jumped by more than 2.05% to $114.71 a barrel. At its peak, it surged by over 3%. Brent crude also rose by 0.41%, reaching $110.22 a barrel.
Surgical strikes in “The Crown Jewel”
On the ground, US fighter jets launched a series of intensive airstrikes targeting ballistic missile sites and drone launch pads belonging to the Islamic Revolutionary Guard Corps (IRGC), as well as radar and air defense systems on Kharg Island. The Axios news website, citing a senior US official, reported that the US military carried out precise “surgical” strikes targeting only “military objectives” on the island. The island is a major port for Iranian oil exports.
Neutralizing threats and protecting navigation
The US official stressed that the goal of the operation was to neutralize offensive capabilities that threaten international maritime security in the Strait of Hormuz, emphasizing that Washington had deliberately avoided directly targeting oil infrastructure “so far.” This was to prevent an environmental catastrophe or a complete collapse of the global oil supply, should Tehran continue its escalation. These dramatic developments come immediately after the expiration of President Trump’s ultimatum to reopen the Strait of Hormuz. Kharg Island is historically considered the “crown jewel” of the Iranian regime’s defense and economic structure, housing the most important Revolutionary Guard fortifications and underground ammunition depots.
