US Strikes Kharg Island, Destroys 90 Per Cent of Iran's Oil Export Hub
Kharg Island became a target of a United States military strike launched on Friday, 13 March 2026. The US destroyed the hub responsible for 90 per cent of Iran’s oil exports, which has long been viewed as a critical vulnerability that would trigger a severe response from Teheran if attacked.
Kharg has storage capacity of approximately 30 million barrels. The island held around 18 million barrels of crude oil in early March, according to a JP Morgan report citing Kpler data.
President Donald John Trump stated on social media that the US had “completely destroyed every MILITARY target” on Kharg and threatened that oil infrastructure could become a target if Iran continues disrupting shipping in the Strait of Hormuz. Iran, which had increased oil production ahead of the US and Israeli strikes on 28 February 2026, continued shipping oil at a rate of 1.1 million to 1.5 million barrels per day, according to data from TankerTracker.com and Kpler.
Markets are monitoring any evidence that the strike on Kharg Island has damaged the island’s complex pipeline networks, terminals, and storage tanks. Even minor disruptions could further tighten global supply, adding pressure to an already volatile market.
“If you destroy Kharg’s infrastructure, you will remove 2 million barrels per day from the market permanently, not until the Strait is repaired,” said Dan Pickering, head of investment at Pickering Energy Partners, as reported by Reuters on Saturday, 14 March 2026.
Iran’s armed forces stated on Saturday that any attack against the nation’s oil and energy infrastructure would be met with retaliation. Iran would target attacks against energy infrastructure belonging to oil companies cooperating with the US in the region, Iranian media reported.
“I am very concerned this will escalate tensions and Iran has less to lose and appears likely to escalate further. Iran, when cornered, will be quite bold in acting,” said Patrick De Haan, an analyst at GasBuddy, a US fuel price tracker.