msn.com
Jul 9, 2008
TEHRAN, Iran - Iran test-fired nine long- and medium-range missiles Wednesday during war games that officials said were intended to show the country can retaliate against any U.S. or Israeli attack, state television reported. The exercise was being conducted at the mouth of the Strait of Hormuz, a strategic waterway through which about 40 percent of the world's oil passes. Iran has threatened to shut down traffic in the strait if attacked. Oil prices jumped on news of the missile tests, rising $1.80 to $137.84 a barrel in electronic trading on the New York Mercantile Exchange by afternoon in Europe. Gen. Hossein Salami, the air force commander of Iran's elite Revolutionary Guards, said the exercise would "demonstrate our resolve and might against enemies who in recent weeks have threatened Iran with harsh language," the TV...
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