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Tue Dec 13, 2011, 11:21 AM

Oil Surges as Iran Plans Drills to Close Strait of Hormuz [View all]

Dec. 13 (Bloomberg) -- Oil surged above $100 a barrel as Iran’s military prepared to hold drills for closing the Strait of Hormuz, a bottleneck for oil exports from the Persian Gulf.

The military maneuvers will be “soon,” the state-run Fars news agency reported, citing Parvis Sorouri, a member of the parliament’s national security and foreign policy committee. “If the world wants to make the region insecure, we will make the world insecure.”



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Reply Oil Surges as Iran Plans Drills to Close Strait of Hormuz [View all]
Purveyor Dec 2011 OP
dipsydoodle Dec 2011 #1
sarcasmo Dec 2011 #2
Hutzpa Dec 2011 #5
Samba Dec 2011 #6
friendly_iconoclast Dec 2011 #3
ellisonz Dec 2011 #9
Hutzpa Dec 2011 #4
Citizen Worker Dec 2011 #7
The Magistrate Dec 2011 #8