General · 16 March 2026
Explained: Why Kharg Island matters for global oil prices
Kharg Island is Iran's vital oil hub, processing 90% of its crude exports. US action disrupting or destroying it would severely cut Iran's supply to global markets, creating significant fears of scarcity. This reduced supply from a major producer would inevitably drive up international oil prices, directly impacting fuel costs worldwide, including for UK consumers. This uncertainty already caused prices to top $100 a barrel.
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