Trump Eyes Seizure of Kharg Island as Oil Markets Jitter

At a NATO summit in Türkiye, Trump said the U.S. could seize Kharg Island—Iran’s main oil-export hub—as US strikes on Iranian targets continue and a ceasefire appears to have collapsed. Kharg handles about 90% of Iran’s crude exports and lies near the strategically vital Strait of Hormuz, meaning any disruption could hit global supply; Brent crude rose more than 5% on the news. Trump has repeatedly threatened to seize the island but has suggested he would avoid attacking its oil infrastructure unless ships’ passage is endangered.