In the world's continued attempts to stop Iran from developing nuclear weapons, the European Union will impose an oil embargo on the country. Iran's economy is in very poor condition and, aside from oil, they don't have much of an export market. So, naturally, Iran's a little pissy today. The Iranian Fars news agency (read, quack journalism / regime propaganda) "reported" that Iran will close the Strait of Hormuz. The Strait of Hormuz sees roughly 25% of the world's crude oil pass through it and so, a closure would be rather annoying.
We anticipated Iran might do something stupid and sent several destroyers and aircraft carriers into the Gulf. This included two Nimitz class carriers which have more air-firepower, each, than all of Iran's Airforce. A support battle group comprised of British and French vessels also passed through the Strait sending a clear signal to Iran that force will be met with crushing force. Will it be enough to slap the crazy out of Iran? Probably not but it will make them seriously reconsider closing the Strait over the next couple of days.