ECB'S VILLEROY: IT IS PREMATURE TO DEBATE WHEN RATES MAY RISE

BRENT CRUDE FUTURES EXTEND LOSSES, LAST DOWN 6% OR $6.32 AT $98.17/BBL

Iran has reinforced defenses on Kharg Island with mines, additional personnel and MANPADS amid US consideration of a ground operation to seize the key oil export hub, according to sources citing US intelligence. The US recently struck 90 targets on the island but avoided oil facilities. Officials warn of high risks, including casualties and retaliation. Retired Adm. James Stavridis, former NATO Supreme Allied Commander, said: “Iranians are clever and ruthless. They will do everything they can to inflict maximum casualties on US forces.” Gulf allies oppose a ground assault, urging alternative measures such as targeting Iran’s missile program or imposing an النفط export blockade.