US airstrikes targeted military installations including bunkers, radar stations, and weapons depots on Kharg Island as recently as April 7, but US officials confirmed the oil terminal—handling nearly all of Iran's crude exports—was deliberately spared to avert global energy market chaos. This restraint amid the ongoing US-Iran conflict, featuring Iranian drone and missile retaliation on Gulf tankers and US threats of further action, underscores trader consensus on contained escalation. No verified kinetic strike has hit the terminal itself in the past 30 days, with diplomatic signals like stalled talks and Trump's warnings of potential seizure adding uncertainty ahead of any Strait of Hormuz disruptions or intensified military operations.