Diamondback Energy Inc

FANG: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	GW@	LOCK\|jBwR	LOCK\|Qs$#D^M

Crude Bottleneck Extends, but Geopolitical Premium Flaring; Brent Oil Will Likely Test $120

Joshua Aguilar

Mar 16, 2026

Over the March 14-15 weekend, the US conducted large-scale strikes on Kharg Island, according to NBC News. The island houses Iran's critical crude export terminal, which ships over 90% of Iran's crude exports. We understand that the strikes focused on military targets and avoided oil infrastructure.

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Diamondback Energy Inc

Crude Bottleneck Extends, but Geopolitical Premium Flaring; Brent Oil Will Likely Test $120

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