Top of the Hour: Iran Threatens to Block Crucial Trade Route, Morning Headlines

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Tensions between the U.S. and Iran are escalating further after Iran announced that it will block a crucial trade route in the Persian Gulf if new sanctions are imposed on its exports of crude oil. The Obama administration says the closure of the Strait of Hormuz will disrupt the free flow of goods and services vital to global prosperity. The 34-mile-wide channel between Iran and Oman is heavily trafficked by oil tankers.