Kharg Island Tensions Spark Oil Price Surge

The recent escalation of tensions between Iran and the US has caused oil prices to surge, with the US military being accused of planning an attack on Kharg Island, a major Iranian energy hub.

Kharg Island is home to the third-largest oil producer in OPEC and was previously responsible for exporting 90% of Iran's crude. However, since the US blockade on Iranian oil exports began in mid-April, flows from the island have been disrupted.

A U.S. official denied that the military had targeted Kharg Island, but tensions remain high. Iranian authorities have warned that any attack on the island could trigger further escalation in the region.