President Trump threatened military action against Iran and stated the U.S. would take control of Iran's oil exports and Kharg Island, causing oil prices to rise in response to the threats.

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Oil prices climbed toward session highs Thursday after President Donald Trump threatened further strikes on Iran and said the U.S. would take control of the country’s oil and gas markets as well Kharg Island, its oil-export hub.

Trump says U.S. will take Iran’s oil-export hub Kharg Island. Here’s what his threat really means.