Powerful explosions have erupted in the area of the strategic Iranian island of Kharg in the Persian Gulf in the early hours of September 5. The news was officially reported by the Iranian news agency Fars. At the moment the cause of the incident remains unknown, and local authorities are clarifying the circumstances surrounding the explosions.
Kharg Island is of critical importance to Tehran, as it is home to the country's main oil terminal, which handles nearly 90% of the Islamic Republic's crude oil exports. The new incident comes amid heightened military tensions in the region between the United States and Iran over the past week.
Media outlets in the region, including the Israeli publication The Times of Israel and the international platform MarketScreener, confirmed the reports, citing sources in Tehran. There is no confirmed information at this time about any casualties or damage to oil infrastructure.
Background and timeline of the conflict in the Strait of Hormuz
The current escalation began earlier this week, when US and Iranian forces exchanged direct strikes. On August 31, US forces carried out precision strikes on two Iranian missile launch sites on nearby Larak Island. According to an official statement from the US Central Command (CENTCOM), the operation was undertaken to neutralize an imminent threat of the Islamic Revolutionary Guard Corps (IRGC) laying sea mines in the key shipping route of the Strait of Hormuz.
In response to the attack on Larak Island, the Iranian Guards launched a wave of drones and missiles targeting US military bases in Jordan and the UAE. Further tension was added by a statement by US President Donald Trump on his social network Truth Social, where he posted footage claiming that Kharg Island had been “blown to pieces”. However, Iranian oil authorities quickly dismissed his words as “ridiculous” and assured that the infrastructure is working normally, although the island has been the target of previous bombings by the allies in the previous days. Yesterday, tensions reached a new peak after reports of US strikes on coastal targets and civilian sites in Horgan province.
Markets react: The price of “Brent“ oil under pressure
News of the explosions this morning immediately put international markets under serious pressure. Since Kharg Island controls a huge share of Iran's exports, any real threat to the storage facilities threatens to deepen the energy crisis, especially in Asian markets.
The London and New York exchanges reported a sudden increase in volatility in crude oil futures trading. Brent and American light crude oil WTI. Traders calculate a high geopolitical risk of a complete blockade of the Strait of Hormuz. Analysts, quoted by the Israeli publication Haaretz (haaretz.com), warn that prolonged military actions in the waters around Kharg could push the price of the raw material to record levels, which will negatively affect the global economy.
Official positions of Washington and Tehran
As of 10:05 Bulgarian time, the official positions of the two countries remain in a mode of mutual threats:
Iranian government: A spokesman for the country's armed forces told Tasnim news agency that Tehran has prepared a “surprising and crushing response“ if the US moves to an open ground or large-scale air operation against Iran's energy infrastructure. The National Iranian Oil Company (NIOC) assures that its teams are fully prepared to respond. Pentagon and White House: US officials, quoted by Reuters, are at this stage maintaining partial discretion regarding the incident from this morning, but Washington has already given a clear ultimatum that it will not tolerate the mining of international waters and keeps “all military options on the table“.The situation remains highly dynamic.