07.04.2026 20:00
Based on multiple online sources, a significant military action unfolded on Tuesday morning targeting Kharg Island, Iran's primary oil export terminal, dramatically escalating tensions in the Persian Gulf. The U.S. military deployed strikes against more than 50 military objectives on the island—a crucial hub responsible for approximately 90% of Iran's crude oil exports—just hours before a critical deadline set by President Trump expired.
The initial reports of explosions, first relayed by Iran's semi-official Mehr News Agency around 1:30 PM local time, triggered an almost instantaneous reaction in global commodity markets. The price of U.S. crude oil surged by over 3%, catapulting to nearly $116 per barrel, while the international benchmark Brent crude crossed the $110 threshold, reflecting deep market anxiety over potential supply disruptions.
Vice President JD Vance, in a press conference held alongside Hungarian Prime Minister Viktor Orbán in Budapest, officially confirmed the operation. He characterized the strikes as "re-strikes" on previously identified military sites, explicitly stating that oil infrastructure was not a target and that the action did not signify a change in the administration's overarching strategy. "I don’t think the news about Kharg Island changes anything," Vance remarked, attempting to downplay the escalation's strategic magnitude.
Despite these assurances, the Islamic Revolutionary Guard Corps (IRGC) issued a stark retaliatory warning, stating it would aim to "deprive the U.S. and its allies of the region’s oil and gas for years" should President Trump proceed with his threatened attacks on Iran's civilian power and water infrastructure later that evening. This volatile sequence of events has injected a fresh shockwave into energy markets, underscoring the precarious intersection of military posturing and global economic stability.
