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Global Business News

The Economic Times

Global Business / The Economic Times

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Kharg Island, struck by US, is key hub for Iran oil exports

US forces struck military targets on Iran's Kharg Island. This island is vital for Iran's oil exports. The action raises fears of global oil supply disruptions. Iran has warned of retaliation against energy infrastructure cooperating with the US. Markets are closely watching for any impact on oil flow. This situation could further destabilize an already volatile energy market.

14 Mar 2026 1:03 pm