Oil also decreased on reduced concern that Iran will block the Strait of Hormuz. Crude oil for February delivery fell $1.98 to $99.36 a barrel on the New York Mercantile Exchange, the lowest settlement since Dec. 21. It was the biggest decline since
DUBAI, United Arab Emirates – US Navy's 5th fleet says disrupting traffic through Strait of Hormuz 'will not be tolerated'
The U.S. Navy said Iran's threat to block the strategically and economically important Strait of Hormuz is unacceptable. "The free flow of goods and services through the Strait of Hormuz is vital to regional and global prosperity,"
Pentagon officials warned Wednesday that any action by Iran to seal off the Persian Gulf's oil access through the Strait of Hormuz would be stopped by the U.S. Navy.
* FTSEurofirst 300 down 0.05 pct, Euro STOXX 50 down 0.1 pct * Iran's threat to stop oil flow in Strait of Hormuz weighs * Investors brace for Italy's debt auctions * Record use of ECB deposit facility fuels worries By Blaise Robinson PARIS,