Iran’s Kharg Island is home to a terminal through which the country exports most of its oil. The Persian Gulf island has emerged as a focus of the month-old war launched by the United States and Israel.

Donald Trump warned the U.S. will completely obliterate all of Iran's electric generating plants, oil wells and Kharg Island if a peace deal is not reached.

Oil prices jumped Monday, with the global benchmark up by nearly 60% for the month and on track for its largest such gain on record, as escalating U.S.-Iran tensions that began at the start of March pushed energy prices to their highest levels in nearly four years.