Iran said on Tuesday it had successfully tested medium-range missiles capable of hitting Israel in response to threats of military action against the country, Iranian media reported. Israel says it could attack Iran if diplomacy fails to force it to halt its disputed nuclear energy program.
Oil fell below $84 a barrel Monday in Asia amid waning euphoria over the latest EU plans to tackle the continent’s debt and economic woes. Signs of a slowing Chinese economy also dragged crude down.
TEHRAN, IRAN – Iran said Sunday that it has “plans” to deal with a new EU embargo on the country’s oil sector and enough hard currency to meet its import needs.