Iran Test fired Long range Missiles.
Iran warned the United States and Israel it was ready to retaliate for any attack on their country,following the test fire of nine long range missiles. Iranian officials have said the missiles could reach targets 2,000 km away. Iranian President Mahmoud Ahmadinejad has insisted his country had no intention of attacking Israel. Crude Oil prise rose $2 to around $138 a barrel. Iran is the world’s fourth largest oil producer. The French, German and Italian governments expressed concern at the missile tests.
Image Credit:www.iranwatch.org
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Iran’s president Ahmadinejad said, that the oil market is plentifully supplied and the rally to record high prices is “fake and imposed”. Iranian president also took aim at high energy taxes in consumer nations. He blamed the decreasing US dollar value and reiterated that oil should be sold in a basket of currencies rather than dollars. Iran has been accused by western nations of building nuclear weapons. Iran is the world’s fourth-largest oil exporter.
