The dispute over Iran's nuclear program has again rocked oil markets. And Iran is threatening to close the Strait of Hormuz, which is just 34 miles wide yet serves as the passageway for 20 percent of the world's oil.
This is not a new drama. In fact, it was a recurring issue in the 1980s. Still, there's been relatively little activity among Gulf oil producers to find alternative routes to get their oil to market.
Originally published on Tue February 14, 2012 6:12 am
For the second time in recent weeks, the USS Abraham Lincoln has passed through the Strait of Hormuz. If you remember the strait has been central in the diplomatic rift between Iran and the United States.
Reacting to sanctions imposed by the United States and approved by the European Union, Iran has threatened to close the narrow strait through which about 20 perent of the world's oil exports passes through.
A man thought to be Iranian blew off his legs, when he tried to lob an explosive at police in Bangkok. Shortly before that happened, two other explosions were reported in the commercial district of the city.
The AP reports police found a passport that identified the man as Saeid Moradi from Iran.
Asked this afternoon if he thinks Israel will attack his nation anytime soon in a bid to destroy work Iran is doing on nuclear technology, the Persian nation's ambassador to the United Nations told NPR, "I don't think that is going to happen."