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The Guardian - AU
The Guardian - AU
World
Callum Jones

Oil prices rise after Trump claims US ‘totally demolished’ Iran’s Kharg Island export hub

United States Oil Donald Trump Iran Kharg Island Kharg the Middle East
Satellite image of Kharg island, Iran, showing military facilities targeted by US strikes.
A satellite view of Iran’s Kharg Island on 7 March, before US military strikes this weekend. Photograph: EU, Copernicus Sentinel – 2 imagery handout/EPA

Oil prices have climbed again amid mounting supply fears after the US struck Iran’s vital Kharg Island oil hub and Donald Trump demanded allies help reopen the strait of Hormuz.

Brent crude, the international benchmark, rose 1.8% to $104.98 per barrel during early trading on Monday. Another weekend of violence across the Middle East compounded concerns over the conflict, and its ramifications for global energy markets.

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