News Headline Summary

Iran to soon stage military drills in the Strait of Hormuz, according to Press TV

- A senior Iranian commander says the Islamic Revolution Guards Corps (IRGC) will soon stage a drill in the Strait of Hormuz.

- IRGC Navy Commander Rear Admiral Ali Fadavi told reporters on Monday that the drill would be held by the end of the current Iranian year (ending March 20, 2013). Fadavi, however, did not provide details on the drill.

Reaction details (10:53)

- No immediate reaction seen in WTI with the Jan contract trading at USD 86.57 (-16 pips) last.

17 Dec 2012 - 10:51 - Equities - Source: Press TV

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