How will oil prices be affected by US bombing Iran's 'crown jewel' Kharg Island?
US bombed military targets on Iran's 'crown jewel', Kharg Island, on Friday. The attack could push oil prices towards $150/barrel as 90% of Iran's crude oil passes through the island, considered the country's most sensitive economic target, Indian Express reported. As per JP Morgan, Iran increased the volume of oil passing through it to 3 million barrels/day in mid-February.