US Strikes Iran's Kharg Island; Strait of Hormuz Closed
Analysis based on 21 articles · First reported Mar 14, 2026 · Last updated Mar 14, 2026
The ongoing military conflict between the United States, Israel, and Iran, particularly the closure of the Strait of Hormuz, is causing significant volatility in global oil markets. Threats to oil infrastructure and attacks on shipping routes are likely to drive up oil prices and increase geopolitical risk premiums across various asset classes.
The conflict between the United States, Israel, and Iran has escalated, with U.S. forces striking military targets on Iran's Iran===Kharg Island, a key oil export hub. Iran has retaliated with widespread missile and drone attacks on Israel and neighboring Gulf states, and has effectively closed the Strait of Hormuz, a vital global oil chokepoint. Iran's military command has threatened to target U.S.-linked oil and energy facilities in the region if its own oil infrastructure is hit. The U.S. has deployed additional Marines and an amphibious assault ship to the Middle East, while its embassy in Baghdad has been targeted by missile strikes. Neighboring countries like Iraq, Bahrain, the United Arab Emirates, and Lebanon are experiencing the direct and indirect impacts of the escalating conflict, with civilian casualties and increased security alerts. The Palestinian militant group Hamas, an ally of Iran, has urged de-escalation while affirming Iran's right to respond.
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