Explosions reported near Iran's Kharg Island oil terminal

Iran's Fars news agency reported explosions near Kharg Island, the country's main crude export hub, ahead of a later report that a tanker in the area was struck by US projectiles. Cause and damage extent were not immediately detailed.

Why this matters. Kharg Island processes roughly 90% of Iran's oil exports; explosions in the vicinity raise the risk of a disruption to Iranian crude flows and further oil-market volatility.