FOXNEWSW Happening Now December 28, 2011
navy carried out 10 days of naval exercises that included warships and drones over this vital waterway. the exercises are being carried out on the eastern side of the straits and down into the gulf of aden and could put them on a collision course with u.s. navy vessels. the straight is 30 miles wide and about 20% of the world's oil passes through there. if the u.s. sanctions again the iran central bank are implemented. julie: what happens if the u.s.? >> reporter: in fact we've seen a rise in oil prices with a threat to close the strait. oil has gone up above $100 a barrel. and essen...