Escalating tensions between the United States and Iran over oil infrastructure

President Donald Trump stated that the U.S. destroyed military targets on Kharg Island, which handles 90% of Iran's oil exports, following Iranian interference with shipping in the Strait of Hormuz. While Trump emphasized that oil infrastructure was not hit during these strikes, he warned that he would reconsider if Iran continues to threaten the safety of passage through the strait. In response, Iranian armed forces declared that any future attacks on their oil and energy infrastructure would result in retaliatory strikes against facilities owned by oil companies cooperating with the United States. Meanwhile, the ongoing regional conflict has resulted in approximately 2,000 deaths and the loss of four U.S. service members in a refuelling aircraft crash in Iraq. Markets remain volatile as Brent crude prices fluctuate amid the conflict. The U.S. has expressed its willingness to escort vessels through the Strait of Hormuz if necessary. Iranian media reported more than 15 explosions on Kharg Island, targeting air defenses and naval bases, while Iran continues to launch missiles and drones at Israel.