The Dow Jones Industrial Average
After the EU announced the import ban, Iran reiterated threats to close the Strait of Hormuz. While the embargo will not likely have an effect on world prices, if Iran were to follow through on trying to block the Strait and a conflict arose, oil prices could skyrocket.
Leading the Dow down is Procter & Gamble
Runner-up loser is Travelers
The best approach
Watching the broad market each day is exciting, gut-wrenching, and stressful, but investing doesn't have to be. If you're in the mood to pick up a great company to buy for the long term, The Motley Fool has created a brand-new free report: "The Motley Fool's Top Stock for 2012." It features a company hand-selected by the Fool's chief investment officer that has a strong future ahead of it. Get access to the report and find out the name of this legendary company. The report is free, but won't be forever, so check it out today.
Dan Dzombak holds no position in any company mentioned. Click here and like his Facebook page to follow his coverage of the oil and gas sector. Motley Fool newsletter services have recommended buying shares of Procter & Gamble. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.