Iran MP says Military to practise closing strait of Hormuz to shipping

IRAN MP SAYS MILITARY TO PRACTISE CLOSING STRAIT OF HORMUZ TO SHIPPING; IRANIAN MILITARY DECLINES TO COMMENT - RTRS

Iran army declines comment on Hormuz exercise

A member of the Iranian parliament's National Security Committee said on Monday that the military was set to practise its ability to close the Gulf to shipping at the narrow Strait of Hormuz, the most important oil transit channel in the world, but there was no official confirmation.

The legislator, Parviz Sarvari, told the student news agency ISNA: "Soon we will hold a military manoeuvre on how to close the Strait of Hormuz. If the world wants to make the region insecure, we will make the world insecure."

Contacted by Reuters, a spokesman for the Iranian military declined to comment.

Iran's energy minister told Al Jazeera television last month that Tehran could use oil as a political tool in the event of any future conflict over its nuclear programme

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As a reminder from Wikipedia:

The strait at its narrowest is 54 kilometres (34 mi) wide.[1] It is the only sea passage to the open ocean for large areas of the petroleum-exporting Persian Gulf. About 13 tankers carrying 15.5 million barrels (2,460,000 m3) of crude oil pass through the strait on an average day, making it one of the world's most strategically important choke points. This represents 33% of the world's seaborne oil shipments, and 17% of all world oil shipments in 2009.[2]

A series of naval stand-offs between Iranian speedboats and U.S. warships in the Strait of Hormuz occurred in December 2007 and January 2008. U.S. officials accused Iran of harassing and provoking their naval vessels; Iranian officials denied these allegations. On January 14, 2008, U.S. naval officials appeared to contradict the Pentagon version of the Jan. 16 event, in which U.S. officials said U.S. vessels were near to firing on approaching Iranian boats. The Navy's regional commander, Vice Admiral Kevin Cosgriff, said the Iranians had "neither anti-ship missiles nor torpedoes" and that he "wouldn't characterize the posture of the US 5th Fleet as afraid of these small boats".

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It's on. Iran has just closed the Straits of Hormuz for military training as was expected yesterday, according to RanSquawk. Oil, and all other commodities, are outtahere.

And entire commodity complex: