US EditionWhy a strike on Iran’s Kharg Island would shake oil markets
Kharg Island handles about 90% of Iran’s crude exports, making it a strategic economic asset and a potential flashpoint amid current US-Israel military tensions.
- On March 8, JPMorgan analysts highlighted Kharg Island handles roughly 90 per cent of Iran's crude exports, making it a critical strategic vulnerability for Iran and global markets.
- The US and Israel have been striking Iran since Feb 28, and on March 7 Israel expanded attacks to energy sites, hitting fuel storage facilities in Tehran.
- Handling around 1.5 million barrels per day, Kharg Island exports about 90 per cent of Iran's crude, most bound for China, and was developed by Amoco in the 1960s.
- A strike on Kharg would immediately halt most of Iran's crude exports and likely trigger severe retaliation in the Strait of Hormuz, disrupting global oil traders and markets.
- Amid debate in Washington, Axios reported Trump administration officials considered capturing Kharg Island, while Iran’s Jask terminal opened in 2021; JPMorgan calls Kharg a 'critical vulnerability' but it remains unscathed.
15 Articles
15 Articles
TEHERÁN. – Under the strong Persian Gulf sun, the small Iranian island of Kharg occupies a disproportionate place in world energy geopolitics.With just 22 square kilometers off the coast of Bushehr province, this territory, restricted to those without access credentials, became the main oil node of the Islamic Republic and, in the current context of tensions in the Middle East, a strategic goal for the United States and Israel.For years, access …
Why Kharg Island matters: Iran’s strategic Gulf oil island
Iran’s Kharg Island, through which the vast majority of the country's oil exports pass, has been thrust into the spotlight amid growing speculation that it could be the next target of the US and Israel assault. The devastating offensive against Iran has now entered its 12th day and is drawing the region into a widening regional conflict. As the war intensifies, attention has increasingly turned to the small northern Gulf outpost as a potentia…
It is now almost two weeks of war in Iran. The price of oil has risen by 30%: we have reached almost $120 per barrel. Half-world motorists are noticing it. In Spain, the price of diesel and gasoline has also skyrocketed and has reached the barrier of 2 euros per litre. Israel's and the United States' offensive against the Ayatollás regime can generate a serious economic crisis, of which we would only be feeling its first consequences. Perhaps th…
Kharg Island: Iran’s ‘untouchable’ oil artery?
It is the centerpiece of Iran's oil industry. Located some 25 kilometers, or 15 miles, off the shore of mainland Iran, Kharg Island is a small but vital strip of land, for the Iranian regime. Around 90% of its crude oil exports pass through here. FRANCE 24's Solange Mougin reports.
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