In a fresh warning on Thursday, President Donald Trump said that he would like the United States to eventually take control of Iran’s key oil export hub, Kharg Island, as the conflict between Washington and Tehran escalates.

Speaking in an interview on Fox News, Trump said Kharg Island remained his preferred target because of its importance to Iran’s economy. However, he questioned whether Americans would support a major expansion of the war.

“We are talking to them and all, but you know, look, my preference has always been – take Kharg Island,” Trump said. “My preference would be that. I don’t know that America has the stomach for it,” he added.

Oil prices rise

The president also warned that the United States would launch larger attacks against Iran later on Thursday. “There will be more bombing tonight. It will be bigger — bigger, more powerful,” Trump said during the interview. He added that he would rather avoid targeting civilian infrastructure such as bridges and power plants. However, he added that military pressure on Iran would continue.

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Oil prices rose after Trump threatened fresh attacks on Iran. Brent crude futures gained 46 cents, or 0.5%, to $93.56 a barrel, while US West Texas Intermediate (WTI) crude rose 65 cents, or 0.7%, to $90.68, reported Reuters.

Why is Kharg Island so important?

Kharg Island sits in the Persian Gulf and serves as the center of Iran’s oil export network. Although the island is only about one-third the size of Manhattan, it handles roughly 90% of Iran’s crude oil exports.

Before recent disruptions, around 1.5 million to 2 million barrels of Iranian oil passed through the facility each day, making it one of the most strategically important energy locations in the Middle East.

Trump suggested a model similar to the approach Washington used toward Venezuela’s energy sector, saying he wanted the United States to eventually assume control over Iran’s oil and gas infrastructure.

Hours later, Trump repeated the threat in a social media post. He said the United States would strike Iran “very hard tonight” and claimed that much of Iran’s military capability had already been destroyed. “At some point in the not too distant future, we will be taking Kharg Island, and other oil infrastructure points, and assume total control of their Oil and Gas Markets,” Trump wrote.

Kharg Island plays a critical role in Iran’s economy. The vast majority of Iran’s crude oil exports leave the country through terminals located on the island. Much of that oil traditionally flows to Asian markets, particularly China.

Since oil exports provide a major source of revenue for Tehran, any disruption to Kharg Island could have serious economic consequences for Iran, reported Reuters.

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Energy analysts view the island as one of the most valuable strategic assets in the country. Control of Kharg Island would give enormous influence over Iranian energy exports and potentially affect global oil markets, reported Reuters.

Although oil shipments from the island have already faced disruptions because of recent military actions and restrictions on exports, Kharg remains central to Iran’s long-term economic and energy strategy.

Trump says negotiation talks ‘not ended’

Despite his threats, Trump said negotiations with Iran have not ended. He said talks remain underway even as military operations continue. Iranian sources and Western officials told Reuters that indirect discussions between the US and Iran have intensified in recent weeks. The talks focus on a possible preliminary peace arrangement after more than three months of conflict.

One Iranian source told Reuters that negotiations had made progress despite the conflict. “This war, from a military standpoint, is a dead end. The Americans could not achieve their goals by attacking Iran. There has been progress in negotiations,” the source told Reuters.

US-Iran strikes

The conflict has already caused significant damage across the region. Thousands of people have died, mainly in Iran and Lebanon, since the United States and Israel launched major strikes against Iran on February 28.

The latest round of violence followed tit-for-tat attacks between both sides. The US military said it targeted surveillance systems, communication networks and air defense facilities across Iran. American officials described the attacks as a response to what they called continued Iranian “aggression”.

Iran responded with missile and drone attacks against US military targets across the Gulf region. Iran’s Islamic Revolutionary Guard Corps said it launched attacks against American facilities in Kuwait, Bahrain and Jordan, as well as the US Navy’s Fifth Fleet headquarters in Bahrain.