American forces have attacked Iran’s Kharg Island, home to the country’s primary export terminal. Centcom announced the attacks via X.com, writing:
Last night, U.S. forces executed a large-scale precision strike on Kharg Island, Iran. The strike destroyed naval mine storage facilities, missile storage bunkers, and multiple other military sites. U.S. forces successfully struck more than 90 Iranian military targets on Kharg Island, while preserving the oil infrastructure.
The video below accompanied the post.
Last night, U.S. forces executed a large-scale precision strike on Kharg Island, Iran. The strike destroyed naval mine storage facilities, missile storage bunkers, and multiple other military sites. U.S. forces successfully struck more than 90 Iranian military targets on Kharg… pic.twitter.com/2X1glD4Flt
— U.S. Central Command (@CENTCOM) March 14, 2026
NASA describes Kharg Island as follows:
Kharg Island is Iran’s primary oil export terminal in the Persian Gulf. This rocky limestone island is unique because it is one of the few islands in the Persian Gulf with freshwater which has collected within the porous limestone. In addition to its commercial and strategic importance, the freshwater has biological importance, supporting populations of gazelles. This high-resolution photograph taken by astronauts on board the International Space Station shows detail of the tanker dock facilities, tanks and other infrastructure. Sunglint on the surface of the water highlights small amounts of oil on the sea surface and reveals the direction of the local currents.
In response to the strikes, Iran struck the Fujairah oil storage facilities in the United Arab Emirates.
🚨 🇦🇪 Fujairah Port in the UAE in Flames After Iranian Attack
This is the world’s second-largest bunkering hub (after Singapore) and a key oil export terminal.
Dozens of millions of barrels are stored here, servicing international traders and tankers. pic.twitter.com/2PKGwfdcUp
— NEXTA (@nexta_tv) March 14, 2026
The threat of escalation caused oil futures to bounce around over the weekend. Prices closed at $97.40/barrel on Friday. Prices so far this morning have declined slightly in response to some crude oil tankers making it through the Strait of Hormuz. Traders are hopeful after U.S. Treasury Secretary Scott Bessent reportedly told a CNBC interviewer that the administration was allowing Iranian crude oil shipments through the Strait of Hormuz.
Action Line: Investors with diversified portfolios and investment plans should not panic. Markets have endured times of volatility greater than the current situation in Iran. When you want to discuss a plan for your portfolio and risk tolerance, email me at ejsmith@yoursurvivalguy.com. And click here to subscribe to my free monthly Survive & Thrive letter.
