Trump Signals Potential Seizure of Iran's Kharg Island; Oil Prices Surge to $116

US President Donald Trump suggests taking control of Iran’s primary oil hub while Tehran fast-tracks a plan to levy transit tolls on the strategic Strait of Hormuz.

  As the US-Israel war on Iran entered its 31st day on Monday, global energy markets braced for fresh volatility. US President Donald Trump escalated his rhetoric, suggesting the United States could seize Iran’s Kharg Island to "take the oil." Simultaneously, Tehran signaled a major shift in maritime policy, proposing a "new system" to govern the Strait of Hormuz that includes mandatory permissions and transit fees for passing vessels.

Trump Eyes Iranian Oil Hub

Speaking to reporters, President Trump expressed a clear interest in targeting Iran’s energy infrastructure. "To be honest with you, my favourite thing is to take the oil in Iran," Trump stated, specifically mentioning Kharg Island—the facility responsible for the vast majority of Iran's crude exports. While he noted that the US has "a lot of options," the mention of a physical seizure has sent shockwaves through diplomatic channels.

Strait of Hormuz Toll Plan

In a direct counter-move, Iranian Member of Parliament Alaeddin Boroujerdi confirmed that a parliamentary plan to regulate the Strait of Hormuz would be approved "as soon as possible." Under this proposed framework, no vessel would be allowed passage without explicit Iranian permission. Furthermore, Tehran intends to impose transit tolls, citing the costs of maintaining regional security and providing maritime services.

Global Oil Prices Hit $116

The twin threats of infrastructure seizure and shipping restrictions have pushed energy prices to a two-week high. Brent crude, the international benchmark, surged by over 3% on Monday morning, surpassing the $116 per barrel mark. This Latest News Today reflects growing fears of a sustained supply crunch, as the Strait of Hormuz remains the world's most critical chokepoint for oil transit.

Iran Confirms Commander’s Death

On the military front, Tehran has officially confirmed the death of Rear Admiral Alireza Tangsiri, the Commander of the Islamic Revolutionary Guard Corps (IRGC) Navy. According to the state-run IRNA news agency, Tangsiri succumbed to severe injuries sustained during a recent operation. This follows earlier claims by Israel that the commander was neutralized in a "precise and lethal" strike last week.

Regional Casualties and Escalation

The human cost of the conflict continues to rise across the Middle East. In Kuwait, the Ministry of Electricity and Water reported that an Indian worker was killed following an Iranian attack on a power and desalination plant. Meanwhile, Israeli health officials stated that over 6,000 people have been injured since the outbreak of hostilities on February 28, with 232 new casualties reported in the last 24 hours alone.

Diplomatic Maneuvers and Mediation

Despite the intensifying combat, backchannel diplomacy is reportedly active. Pakistan has announced its readiness to host talks between Washington and Tehran in Islamabad. While President Trump described indirect negotiations via Pakistani intermediaries as "going very well," Iran’s Foreign Ministry spokesperson Esmaeil Baghaei denied any direct talks, dismissing US demands as "excessive and unreasonable."

Future Outlook and Risks

The conflict's trajectory remains highly unpredictable. While Trump claims the US is "weeks ahead of schedule" in its military objectives, Iran has vowed to continue its defense until "a lesson is taught." As nations like Australia and New Zealand warn of soaring inflation and economic fallout, the global community is watching closely to see if a ceasefire can be reached before the energy crisis triggers a worldwide recession.