Analysis: Iran's Oil Export Hub on Kharg Island Attacked, Oil Price Volatility Could Increase Further

BlockBeats News, March 15th. Following the US strike on Iran's key oil export hub on Kharg Island, the oil market is preparing for potential sharp fluctuations in the new week, exacerbating concerns about supply disruptions in the Middle East.

US President Trump warned that if Iran blocks the Strait of Hormuz, attacks on energy infrastructure could further escalate; meanwhile, Tehran has threatened retaliation against US-related energy facilities.

Impacted by the tense situation, Brent crude surged 11% last week, briefly touching $119.50 per barrel. Analysts predict that with the situation at Iran's key export hub Kharg Island still unclear, oil price volatility may further increase.

Meanwhile, shipping through the Strait of Hormuz has nearly come to a standstill, with this passage handling a significant proportion of global oil transportation. If the transport remains disrupted, it will put pressure on global energy supply and further drive up fuel prices worldwide.