Kharg Island is a critical hub for Iran's oil exports, handling around 90% of the nation’s crude trading. Despite extensive bombing campaigns in the region, the US and Israel have so far left this vital site intact. Experts warn that an attack on Kharg Island could severely disrupt global oil supply, potentially causing prices to spike dramatically, with estimates suggesting prices could soar from around $120 to $150 per barrel. This concern arises amidst already elevated oil prices due to geopolitical tensions and fears of Iranian retaliation, which have effectively limited tanker traffic through the important Strait of Hormuz.

The US's strategic restraint regarding Iranian oil infrastructure is a notable point of analysis among experts, as it reflects broader considerations of the global energy market. Airstrikes have targeted numerous sites in Iran, yet a conscious decision appears to have been made to avoid impacting oil export capabilities, likely driven by the potential for drastic economic repercussions globally. The reluctance to strike Kharg Island suggests a complex interplay between military objectives and the need to stabilize energy markets that are already in turmoil due to ongoing conflicts.

Meanwhile, recent Israeli airstrikes have focused on other oil-related facilities but have avoided Kharg. The targeting of such sites raises questions about the broader strategy regarding Iran's energy sector amidst escalating violence in the region. As the situation develops, the implications for global oil prices, international relations, and military strategies will be closely monitored by governments and market analysts alike, especially as the primary concern remains the stability of oil supplies crucial to the world economy.