U.S. and Israeli airstrikes have repeatedly targeted military installations on Iran's Kharg Island—handling 90 percent of the country's crude oil exports—most recently on April 7, 2026, with over 90 strikes hitting bunkers, radars, and weapons depots while deliberately sparing oil terminals and pipelines to limit economic fallout. These actions respond to Iran's Strait of Hormuz blockade disrupting global energy flows, amid President Trump's ultimatums threatening energy infrastructure unless shipping resumes. A two-week ceasefire was agreed April 8 following intense diplomacy, but U.S. forces remain mobilized, with Iranian exports reportedly rising despite tensions. Traders eye upcoming talks, potential restrikes, or de-escalation signals before market resolution, as any terminal hit could spike oil prices dramatically.