Oil Prices Hover Near $101 Amid Middle East Concerns
Talk of closing the Strait of Hormuz is generally seen as an empty threat from Iran. The U.S. State Department said it saw an element of bluster in the threat. Yet it has been made before and since nearly one-third of all tanker traffic passes through the Strait of Hormuz the concern lingers. Most, however, don't seem to think Iran could or would pull it off, for long anyway.