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Iran's Kharg Island Export Terminal Sits Idle as Regional Tensions Escalate

Iran's primary crude export facility at Kharg Island remained inactive Tuesday, marking a prolonged pause in shipments from the Persian Gulf. This represents the first extended halt since the war's onset, further constraining global crude supplies. U.S. crude futures surged past $100 per barrel as markets absorbed the export halt and dimming prospects for diplomatic resolution. President Trump characterized ceasefire negotiations as being on "life support," underscoring deepening uncertainty over the conflict's trajectory. The outage compounds existing supply pressures, with OPEC production now at its lowest level in 36 years. The extended shutdown threatens to tighten global inventories amid heightened energy market volatility.