What to know

• Trump's Truth Social posts came hours after the US military carried out air strikes on Iranian rocket launchers on Larak --a small island in the Strait of Hormuz -- in its first attacks on Iran since late July.S1
• Global oil markets have been turbulent since the war began and an attack on Kharg Island - the primary terminal for around 90% of the country's oil exports - would to leave markets in disarrayS2
• Hours after the Iran-US conflict escalated, Donald Trump has launched a thinly veiled AI threat against Iran.S3
• Kharg is a small island in the northern Persian Gulf but is the backbone of Iran’s oil export infrastructure. Roughly 90% of Iran’s crude oil exports were handled through the island before the war, making it one of Tehran’s most important economic assets.S4