Energy Business

US Airstrikes Target Iranian Military Installations Amid Ongoing Oil Supply Crisis

On March 13, 2026, the United States conducted airstrikes on military targets in Kharg Island, Iran, which is crucial for oil exports. This escalation follows Iran's blockade of the Strait of Hormuz, significantly disrupting global oil supply and pushing Brent crude prices above $100 per barrel. The long-term implication is a potential exacerbation of the oil supply crisis, with analysts predicting prices may surpass previous highs due to continued geopolitical tensions in the region.