FILE - In this Jan. 19, 2012 file photo, fishing boats are seen in front of oil tankers on the Persian Gulf waters, south of the Strait of Hormuz, offshore the town of Ras Al Khaimah in United Arab Emirates. The European Union has announced plans to join US efforts to slow the flow of oil from Iran, the world's third largest exporter. In response, Iran has threatened to shut the Strait of Hormuz and prevent one fifth of the world's oil from reaching customers. (AP Photo/Kamran Jebreili)
FILE - In this Jan. 19, 2012 file photo, fishing boats are seen in front of oil tankers on the Persian Gulf waters, south of the Strait of Hormuz, offshore the town of Ras Al Khaimah in United Arab Emirates. The European Union has announced plans to join US efforts to slow the flow of oil from Iran, the world's third largest exporter. In response, Iran has threatened to shut the Strait of Hormuz and prevent one fifth of the world's oil from reaching customers. (AP Photo/Kamran Jebreili)
First Posted: 02/15/2012 7:03 am Updated: 02/15/2012 8:39 am