Iran announced a five-day naval drill in the Strait of Hormuz, the world’s most vital oil chokepoint. As the US 5th Fleet issues a “zero tolerance” warning for unsafe behavior, global energy markets brace for impact. Iran announced a five-day naval drill in the Strait of Hormuz, the world’s most vital oil chokepoint. As the US 5th Fleet issues a “zero tolerance” warning for unsafe behavior, global energy markets brace for impact.