Crude oil prices surged after Iran dialed the threat-o-meter up to 11 with a vow to attack a US aircraft carrier if it returns to the Strait of Hormuz. The US 5th Fleet is likely to take up the challenge.
Last year was momentous, but the region may just be getting warmed up.
Iran test-fired a new Qader missile today in the latest bout of martial posturing over the country's nuclear program and the security of the Strait of Hormuz, a crucial shipping lane for oil.
Iran has caused a stir with its threat this week to close down the Strait of Hormuz if sanctions were imposed on Iranian oil exports. Here’s why this small body of water generates so much world attention.
Iran has issued two threats that it could close the Strait of Hormuz, reminding the world how it could spike oil prices if the US or Israel attacks. But it wouldn't be easy.