Iranian Daily life in Chabahar Near the Strait of Hormuz
Iranian women walk on the shore of the Oman Sea in Chabahar, a city in southeastern Iran near the Strait of Hormuz, on January 16, 2012. Chabahar is a free trade zone on the coast of the Gulf of Oman. India is helping Iran to develop the Chabahar port, which is Iran's closest and best access point to the Indian Ocean. UPI/Maryam Rahmanian
Latest Headlines
With the economic noose poised to tighten around Iran over its suspect nuclear program, the Tehran regime is shaking a stick at Gulf nations.
Tensions in the Persian Gulf and modest economic recovery in the United States could influence retail gasoline prices, analysts said.
The International Energy Agency could respond to a major Middle East oil crisis but doesn't see any immediate need for action, the group's director said.
Military officials in Tehran said the United States can not stop Iran from preventing oil from passing through the strategic Strait of Hormuz.
The Iranian foreign ministry confirmed that Tehran received a message from the United States regarding threats to close the Strait of Hormuz.
Light, sweet crude oil prices in New York dropped to $99 per barrel Friday, with worries over Iran on the back burner.
Saudi Arabia, the world's leading oil exporter, has for decades used spare production capacity to cover shortfalls in output by other oil states and prevent prices spiraling in times of crisis.
Iran's Ayatollah Ali Khamenei Friday blamed the CIA and Israeli intelligence agency Mossad for the killing of an Iranian nuclear scientist.
The U.S. government said sanctions on companies tied to the Iranian energy sector are an important step in deterring Iran from developing a nuclear weapon.
The Obama administration warned Iran's supreme political-religious authority closing the Strait of Hormuz would trigger a U.S. response, U.S. officials said.
