"Hopefully China, France, Japan, South Korea, the UK, and others, that are affected by this artificial constraint, will send Ships," President Donald Trump says in a Truth Social postBloomberg Terminal.
- "Many Countries, especially those who are affected by Iran's attempted closure of the Hormuz Strait, will be sending War Ships, in conjunction with the United States of America, to keep the Strait open and safe," he says in the post.
- US will continue to destroy Iranian boats and ships, Trump says
The US struck military sites on Kharg Island, from which Iran exports almost all its oil, for the first time overnight, upping the ante in a Middle East war that's raged for more than two weeks and shows little sign of easing.
President Donald Trump said military facilities on the Persian Gulf island had been "obliterated," adding that he chose not to hit oil infrastructure "for reasons of decency." He threatened to do just that should Iran "do anything to interfere with the Free and Safe Passage of Ships through the Strait of Hormuz."
Iran reacted by warning it will target American-linked oil and energy facilities in the Middle East if its own petroleum infrastructure is attacked. Iranian media said all oil-industry workers on the island, which sits about 25 kilometers (16 miles) off the mainland, are safe and unharmed.
The strike is likely to raise fears of more oil and natural gas supply disruptions in the region. Brent crude closed above $100 a barrel on Friday and is at its highest level in almost four years.
"All oil, economic, and energy facilities belonging to oil companies in the region that are partly owned by the United States or that cooperate with the United States will be immediately destroyed and reduced to ashes" if Iran's energy and economic assets are hit, the country's Fars News Agency reported, citing the central military command.
The outlet said more than 15 explosions shook Kharg Island, with the targets including air-defense systems, a naval base, an airport control tower and a helicopter hangar. It didn't specify the scale of the damage.
The US military said it destroyed missile and naval-mine storage infrastructure.
Fars also said that oil exports from Kharg are continuing as normal following the strikes.
In the days leading up to the US-Israeli attacks, Iran ramped up exports from Kharg to near record levels of over 3 million barrels per day, JPMorgan Chase & Co. analysts, including Natasha Kaneva, said in a research note. That was nearly triple the normal rate of shipments.
A strike on Kharg's oil sites "would immediately halt the bulk of Iran's crude exports, likely triggering severe retaliation in the Strait of Hormuz or against regional energy infrastructure," the JPMorgan analysts said.
In the United Arab Emirates, operations at the key oil port of Fujairah on the Gulf of Oman were suspended after a drone attack and fire on Saturday morning, people familiar with the matter said.
Loading of crude and refined products at Fujairah, just outside the Strait of Hormuz, was halted as a precaution while damage is being assessed, according to the people, who asked not to be identified as they're not authorized to speak to the media.
Dubai authorities said debris from an interception hit the facade of a building in a central part of the city. "No fire occurred and no injuries were reported," the Dubai Media Office said.
The UAE government said the country detected nine missiles and 33 drones being fired at it on Saturday. The figure is broadly in line with the numbers from the previous few days.
Jordan, which also houses US troops and aircraft, said it intercepted 79 ballistic missiles and dronesBloomberg Terminal in the past week. Air defenses failed to stop another six projectiles. Nine people were injured in the week, the Jordanian military said.
Iranian media reported more attacks on Tehran early Saturday, while the Islamic Republic's military said it again targeted Israel overnight and Gulf bases hosting US troops. The Associated Press, citing Iraqi security officials, reportedBloomberg Terminal that a missile hit a helipad within the compound of the US embassy in Baghdad.
Energy Escalation
Threats by the warring sides to further hit energy hubs mark a new escalation in a conflict that erupted with US and Israeli attacks on Iran on Feb. 28. Tehran has retaliated by firing drones and missiles at Israel and at Arab states including Saudi Arabia, the UAE, Qatar and Kuwait. It's also struck at Turkey.
Iran, easily outpowered militarily by the US and Israel, is targeting neighboring states as well as shipping and energy sites in a bid to cause chaos in the region and oil and gas markets, hoping it puts pressure on Trump to end the fighting. The US leader is facing criticism at home as gasoline pump prices soar and with many political opponents saying he underestimated Iran's response and resilience.
Roughly 3,750 people have been killed across the region, according to tolls from governments and non-governmental organizations. The US-based Human Rights Activists News Agency said more than 3,000 people were killed in the last two weeks in Iran. Lebanon's government says around 700 people have died in Israeli attacks on the country in a parallel war the Jewish state is waging against Iran-back Hezbollah. Dozens have died across the Gulf and in Israel while the US has lost 11 service members.
Iran has attacked several vessels in the vicinity of Hormuz, which has effectively shut the vital waterway. Normally, a fifth of the world's oil supply flows through it, as well as plenty of container ships. Saudi Arabia, Iraq, the UAE and Kuwait have all had to curb crude production while Qatar has halted operations for liquefied natural gas. It's one of the world's top three suppliers of the fuel.
The Trump administration has discussed trading in the oil futures market as a strategy to help curb surging prices
Yet Burgum, speaking to Bloomberg TV in Tokyo on Saturday, said he wasn't aware whether the US had actually intervened in the market at this point.
The head of the company that oversees the trading of West Texas Intermediate US oil futures has warned it would be a "biblical disaster" for the federal government to start trading derivatives as a way to lower crude prices.
"Markets do not like when governments intervene" in market pricing," Terry Duffy, chief executive officer of CME Group Inc., said at a conference this week.
Uncertainty over the length of the war is mounting amid Trump's mixed signals and Iran's continued defiance. On Friday, the president said the US would continue its campaign for "as long as necessary" and suggested the American navy would soon begin escorting ships through the Strait of Hormuz. That was a shift from earlier remarks that US military objectives were "pretty well complete."
On Saturday, Israel's defense minister, Israel Katz, lauded the attack on Kharg and said the war is entering its "victory phase." He also said fighting would last "as long as required."