Update: It's Not On Just Yet: Iran Denies Earlier Reports:... Iran Closes Straits Of Hormuz, Oil Explodes

Tyler Durden's picture

And update from Bloomberg:

  • HORMUZ STRAIT IS NOT SHUT: IRAN FOREIGN MINISTRY SPOKESMAN - Bloomberg

Earlier:

Iran has 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:

And for those curious about more, RanSquawk speculates that the source of the data is a report in the Tehran Times saying that Iran will hold War Games in which it would close the Straits. Unclear if this is what Ran referenced when they said the Straits were already closed.

TEHRAN - MP Parviz Sorouri of the Majlis National Security and Foreign Policy Committee has said that Iran plans to practice its ability to close the Strait of Hormuz, one of the world’s most strategically important chokepoints, which accounts for about 30% of the world’s seaborne oil shipments.
“Currently, the Middle East region supplies 70 percent of the world’s energy needs, (most of) which are transported through the Strait of Hormuz. We will hold an exercise to close the Strait of Hormuz in the near future. If the world wants to make the region insecure, we will make the world insecure,” ISNA quoted Sorouri as saying on Tuesday.

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Comay Mierda's picture

algos on crack this morning

Popo's picture

"Military Training" needs quotes around it.

mrgneiss's picture

......I wonder if the Ayatollahs bought some calls...........probably if they have been paying attention to how Congress really works........

SHEEPFUKKER's picture

Somehow this must be bullish. ;)

EscapeKey's picture

It is for the military-industrial complex.

DaveyJones's picture

it's as if they have some pull

B-rock's picture

The Iranians only said they're going to soon...  Knee jerk.

SheepHerder's picture

ZH, "Explodes?"   Since when is a $3 jump an explosion?

Spirit Of Truth's picture

It's indicative of shocking news, but I don't see where the Straits of Hormuz have actually been closed.

Nevertheless, this would certainly be consistent with what I've been warning about based upon the Elliott Wave pattern:

http://thespiritoftruth.blogspot.com/

Arthor Bearing's picture

If anything tyler has a long position on moves more than a basis point it is an explosion ;)

Dave Thomas's picture

Tyler graduated from the Wall Street Journal's school of adjectiveievry.

JPM Hater001's picture

I'm +1'ing for the effort.  Well played.

In Fed We Trust's picture

Tyler
Need s to adjust the y axis of the charting software to 10 handles.

Then the chart wont seem so "parallbollic"

Kill the "cents" column.

trav7777's picture

get ready to rumble...they can't actually close the Strait "legally"

Cdad's picture

And even now, the story has been clarified as "testing their ability to close the straits."  I'll weigh in here...the test will fail.  Also now..."rumor."  Where have we heard that word before? 

What has the market done with this "story"?  Aside from the spike in spot prices, it is doing what it has been doing for 30 days now...distribution of energy stocks into the bid.

Same as it ever was.

 

Cdad's picture

Query:  If Dan Dicker pimps his energy equity book 100 times on the BlowHorn [CNBC], and Iran rattles it's saber three times, will anyone hear a sound when Dan Dicker capitulates and dumps into the ferocious distribution in the energy sector...30 days and counting?

Just asking...

mendolover's picture

Understood.  But was Obama's NATO invasion of Libya legal?  haha  Hey everyone;  don't let your babies grow up to be soldiers!  I'd also like to thank all the commentors here on ZH.  I have had the education of my life since I've been up here.  Especially love the links y'all post.  Ding ding!!

Ghordius's picture

wait a moment - Libya was "liberated" by Al Kaida sympathizers, sorry, by the "rebels" with the help of the glorious arms of France and the United Kingdom.

No US boots on the ground, only a few loads of ammo, some drones, some flightovers, some intel assets, some nudging, some hedging, some...

Don't you ever listen to your government?

Sizzurp's picture

Obama will send in the drones..........led by general grievous.

Ghordius's picture

close the straits is illegal in what used to be called international law

but having a few military exercises it's usually ok - has only annoyance value

In Fed We Trust's picture

All this talk about the strait closing and War with Iran peaked in July 2008.

The Drudged and Ny Times "plugged" the story everydat for 6 months.

Oil goes to 147 and then "poof" NO WaR!

Only a market crash which oil lead the way.

This is what george soros means between the "difference between investors preceptions of actual events and the actual events.

I present to you my follow ZH's ;

Soros. "Theory of Reflextivity". Apparently Matt Drudge is the feedback loop mechanism in his Theory.

So here we are 2 years later with event unfolding.

Spastica Rex's picture

What's good for Raytheon is good for America.

tarsubil's picture

More broadly, what is good for northern Virginia office space, is good for America.

DormRoom's picture

If US moves, China & Russia moves.  If Russia moves, Europe moves.

 

The we are all fcked.  US will need to reinstate the draft.

EscapeKey's picture

But would their moves be military, or through trade?

FEDbuster's picture

Bullish for 18-30 yr. old unemployment figures.  Birth/death ratio should improve, too.

a growing concern's picture

Oh, I'm sure we'll be able to find jobs as cannon fodder.

Big Slick's picture

ZEROHEDGE ROCKS!!!!   

Twenty minutes into WW3, and ZH is the ONLY outlet on the ball (along w their source).

Crickets coming from the MSM.  

Guy Fawkes Mulder's picture

 

 

WSJ checks in at 11:40:

OIL FUTURES: Crude Oil Jumps On Iran Rumors, Then Falls Back

http://online.wsj.com/article/BT-CO-20111213-709650.html

 

FoxNews checks in ~noon:

Iranian Official Threatens Military Drill Sealing Off the Strait of Hormuz

http://www.foxnews.com/world/2011/12/13/iranian-official-threatens-military-drill-sealing-off-strait-hormuz

duo's picture

This is getting an August 1914 feel.  Substitute Iran and Russia for Germany and Austria-Hungary.  Substitute US-Israel for France/Russia/England...

Sizzurp's picture

Who's ship will end up in Davy Jones locker first ?  Drudge reporting the the Iranians are saying "If the world makes the region insecure, we will make the world insecure" LOL Those dumbasses are going to get kurfucked.

oldman's picture

Sizz,

Iran is not Libya, Syria, Kuwait, or Iraq

they can't be taken out with drones

Are you going to put YOUR boots on the ground?

om

 

 

 

In Fed We Trust's picture

Matt drudge is a zionist protecting cock sucjer whi was gifted the clinto sex story to put himself on the map.

Since then the Drudge has been used for a whole host of "social real time experients"

And he has teamed up with Soros to practiice his theory of reflextivity withen the Drudge. Matt writes the headlibes that weave a story in the readers mine

Soros trades against the mispreception(timings)
Of the people stupid trade of the Drudge for fundamental trades.

I know because i lost 40,000 betting for war with Iran back ib 2008 vased of the headlibes coming iver the Drudge for 6 months.

GuidoFawkes's picture

The shit economy is the new draft. Brilliant, eh?

g speed's picture

Diminished returns--it will take the whole military to inforce the draft-- blow back

prodigious_idea's picture

No shit on options trading ahead of this type of stuff.  The ultimate insider information without regulation.

disabledvet's picture

"military training." oh and "you only heard it here."

Potemkin Village Idiot's picture

<=== Jusset avatar representative of US doing nuke testing around Bikini Atoll

<=== Jussett avatar representative of the Bernank doing testing on the USD

 

VOTE now...

HedgeAccordingly's picture

I thought something was up when CL rose into 98.40 .. then boom - http://hedge.ly/tN4A1z 

kridkrid's picture

"Oh you are so on that things have now become very much like Donkey Kong" - http://www.youtube.com/watch?v=lTBgm5GNo-Y - soon to be a classic

mp95bravo11208's picture

Not just yet.  We have 3 aircraft carriers on the way.  One just leaving San Diego now so the pieces will be all in place within 2 weeks.  I guess we have a late December /Christmas war on our hands or early January. 

Isn't it nice how our glorious leader with the Nobel peace prize has us in more wars than any President in history at the same time?  Shhhhh  don't tell the mainstrea media though.  ABC news still to date has not notified anyone anywhere of Fast and Furious scandal ofthe DOJ that even killed an America border agent and hundreds of Mexicans.

We are now are living in a virtual dictatorship whether most wake up to this fact or not. 

kridkrid's picture

Our virtual dictatorship has been in place for a long time, likely since the death of JFK.  They even believed they would have control over JFK, but his father had a stroke and they had to go to plan B.

He_Who Carried The Sun's picture

These Ayatollahs don't know what they're up against. If they close it, they will last exactly 3 minutes.

What they will say in 2 minutes is this: " Just jokin' ".

topcallingtroll's picture

They arent closing it.

This was careless use of English.

They are practicing closing it.
It remains open for business during the training exercise.

He_Who Carried The Sun's picture

Exactly, I am glad you didn't fall for it either!
WHY DOES THIS HEADLINE READ

It's On: Iran Closes Straits Of Hormuz, Oil Explodes 

 

??

Deceitful, isn't it? Durden? ZH? PoS!

kito's picture

tyer, please change headline, lets not stoop to rag mag checkout counter tactics.........

 

Potemkin Village Idiot's picture

Fuck that... I say we all light our hair on fire & run around the room waving our hands in the air & screaming loudly...

Let's get this show on the road already...

Ima anal sphincter's picture

War, war, war.........death, death, death.......... I hope the idiots who condone this shit on ZH would be picked up and dropped right in the middle of this thing. THIS ISN'T FUN AND GAMES. Haven't we (U.S.) fucked things up enough???? Our government and the bankers who control it have gone completely mad for power. They're so willing to sacrifice innocents for their cause. I'm ready to sacrifice them for the world's.

You dumb-ass's that think this is funny, grab a heapin-helpin of reality here. You have NO FUCKING CLUE WHAT YOU'RE IN FOR.