US attacks Kharg, strategic island from which Iran exports 90% of its oil
President Donald Trump announced a significant military strike on Kharg Island, which is crucial for Iran's oil exports.
Jark Island, the Crown Jewel of Iran's Oil Industry Under Trump's Spotlight
Jark Island is a key location for Iran's oil exports, crucial to the country's economy and in the center of geopolitical tensions.
32 countries will release 400 million barrels of oil from their reserves
Thirty-two countries of the International Energy Agency (IEA) will release 400 million barrels of their strategic reserves to compensate for supply losses due to disruptions in maritime traffic through the Strait of Hormuz.
Iran warns of prolonged war: Asks the world to prepare for oil prices at 200 dollars a barrel
Iran is warning the world to brace for oil prices to potentially reach 200 dollars a barrel as the country prepares for a long-term conflict.
'Black gold' skyrockets due to US-Iran war: Oil barrel is sold for up to 120 dollars
Oil prices have surged over $100 per barrel as production cuts by Saudi Arabia and other Middle Eastern producers continue amid geopolitical tensions.
Iran's closure of the Strait of Hormuz could have dramatic consequences for the world economy
The closure of the Strait of Hormuz by Iran is causing significant concern regarding a potential increase in oil prices and its effects on the global economy.