LEBANESE MINISTRY OF HEALTH: 1,021 MARTYRS AND 2,641 WOUNDED IN THE ISRAELI AGGRESSION SINCE MARCH 2

Kharg Island, just 15 miles off Iran’s coast, handles nearly 90% of Iran’s crude exports, mostly to China, making it pivotal for global energy markets. The facility, with storage for 30 million barrels and capacity to load up to 10 million barrels daily, has been operating steadily despite the Iran war. Any attack could sharply disrupt exports, push global oil prices higher, and trigger Iranian retaliation, while ongoing control of the Strait of Hormuz ensures crude still reaches international markets.

CITI MAINTAINS DOWNSIDE BIAS ON US HENRY HUB NATURAL GAS PRICES DUE TO OVERSUPPLY BUT RAISE GLOBAL GAS PRICES ON LNG SUPPLY DISRUPTIONS CITI EXPECTS EUROPEAN TTF NATURAL GAS AND ASIAN JKM LNG ARE LIKELY TO AVERAGE €75/MWH ($25.4/MMBTU) AND $26.8/MMBTU IN 2Q26 RESPECTIVELY