US President Donald Trump threatens to destroy Iran’s Kharg Island oil terminal, risking a massive spike in global oil prices beyond $200 a barrel
WASHINGTON: US President Donald Trump has threatened to destroy Iran’s main oil export terminal and energy infrastructure.
He issued the warning despite concerns over surging global oil prices, demanding Tehran quickly accept a peace deal.
Trump expressed confidence in a negotiated settlement but warned of military action. He said US forces would “blow up” Kharg Island and all Iranian oil wells and power plants if a deal is not reached or if Iran continues blocking the Strait of Hormuz.
An earlier Trump comment about a possible US ground assault on Kharg Island had already sent prices higher. The US leader then doubled down with a combative social media post.
Market experts warned any US ground operation or wider Iranian retaliation could send oil to unprecedented levels. Analyst Tamas Varga of PVM Energy said projections of $200 per barrel would no longer be “an otherworldly supposition”.
Brent crude has already risen nearly 60% this month. The US benchmark WTI has increased by more than half.
Iran has previously threatened to target the energy infrastructure of its Gulf neighbours if its key sites are struck. The month-old war has already inflicted havoc on the global economy and plunged markets into turmoil.
On the ground, hostilities continued as Israel said its air defences responded to “missiles launched from Iran”. Israel confirmed it had recently struck Imam Hossein University in Tehran, which it says is used by the IRGC for weapons research.
Separately, the Israeli military said one soldier was killed in combat in southern Lebanon. This brings to six the number of troops killed since fighting with Hezbollah began this month.
Indonesia confirmed one of its peacekeepers was killed after a projectile hit a UN position in Lebanon. An Israeli strike also hit an army checkpoint, killing a Lebanese soldier.
On the diplomatic front, Pakistan hosted foreign ministers from Saudi Arabia, Turkey and Egypt for talks. Pakistan’s Foreign Minister Ishaq Dar said they discussed how to “bring an early and permanent end to the war”.
He said Iran and the United States had expressed “confidence in Pakistan to facilitate the talks”. Nevertheless, the speaker of Iran’s parliament accused Washington of using diplomacy as a smoke screen.
The United States has been sending more military assets into the region despite diplomatic overtures. This includes an amphibious assault ship carrying 3,500 Marines.
The weeks of strikes have taken a heavy toll on ordinary Iranians. “I miss a peaceful night’s sleep,” an artist in Tehran told AFP, describing night-time strikes as “so intense it felt like all of Tehran was shaking”.
The war has escalated into a regional conflagration with Tehran retaliating against Gulf states. Iran has virtually sealed the critical Strait of Hormuz oil shipping lane.
Iran says it has closed the strait to vessels from hostile nations. The strait previously accounted for a quarter of the world’s seaborne oil trade.