Just Got Worse - Joe Blogs

[TexasTowelie]

The war in Iran has taken a serious new turn.

The United States has launched strikes on Kharg Island — the location responsible for roughly 90% of Iran’s oil exports. Around 1.5 million barrels of oil per day currently leave Iran via Kharg Island, with much of that oil going to China.

Although the strikes reportedly targeted military facilities rather than oil infrastructure itself, the conflict has now moved right up to the center of Iran’s oil economy.

Iran has warned that if its oil infrastructure is attacked, it will retaliate by targeting American-linked oil facilities across the Middle East. If that happens, the conflict could escalate into a broader war on energy infrastructure.

Iran has previously warned that oil prices could surge to $200 per barrel if the situation escalates.

With the news breaking over the weekend, markets have not yet reacted. When oil trading resumes, investors will be watching closely to see how oil prices respond.

In this video we break down what happened, why Kharg Island is so important, and what this could mean for oil prices and the global economy.

[Safe as Milk]

1. This is why

You don’t fuck with Iran.