IEA Approves Record Oil Release

0:00In Adelaide, it's March 11th. Here's what is happening. Carg Island sits off a ranch coast and handles up to 90% of the country's oil exports. This small spot with deep water jetties lets super tankers load crude from major fields before it heads through the strait of Hormuz. Striking or seizing it could cripple Iran's cash flow, which funds its government and military. Over the weekend, Israel hit Iranian oil and fuel storage sites for the first time in the conflict, causing big fires and even oil-tainted rain in. Tehran. Earlier strikes may have grazed the island too, but details remain unclear. Leaders are talking tough. Israel's Benjamin Netanyahu promised more surprises ahead. President Donald Trump has not ruled out limited U.S. ground action there, saying it could shut down Iran's economy without a full invasion. Experts warned it would hit China hard as they buy over 80% of Iran's shipped oil. Analysts like those at JPMorgan say a direct hit would halt most exports and spark retaliation,

1:02maybe in the strait of Hormuz or against Gulf energy. Sites. Some push for season the island to deny Iran revenue long-term, but holding it might lead to wider fighting. The island has loaded tankers since the 1960s and dodged major damage in past wars. U.S. leaders ided during the Iran hostage crisis but backed off over global oil fears. Now, the choice to strike, seize or ignore could reshape the war in markets. The Daily News Now is grateful to our sponsor for today's episode. If earbuds fall out when you sleep, this is for you, a pillow with built-in sound. S-O-L-I-SOLYPILLOW.COM