From Bloomberg via The San Francisco Chronicle (12/13/2011):
Dec. 13 (Bloomberg) -- Iran's military is set to conduct drills for closing the Strait of Hormuz, a bottleneck for oil exports from the Persian Gulf, the state-run Fars news agency reported, citing parliamentarian member Parviz Sorouri.
"Soon we will hold a military maneuver on how to close the Strait of Hormuz," said Sorouri, a member of the national security and foreign policy committee, according to Fars. "If the world wants to make the region insecure, we will make the world insecure." His comments first appeared yesterday on the website of the state-run Iranian Students News Agency before the report was withdrawn without an explanation.
About 15.5 million barrels of oil a day, about a sixth of global consumption, flows through the Strait of Hormuz between Iran and Oman, according to the U.S. Department of Energy.
Still, crude oil went from $100 pre-US market to $95, as the global de-risking continued today, hitting commodities extra-hard.
I hope whatever drill that they plans to do will start and end without incident.