Iran ups the stakes with weapons test
Up to 40% of the world’s oil passes through the Strait of Hormuz, a narrow passage along Iran’s southern coast. Tehran has warned it could shut down tanker traffic there if attacked — a move likely to send oil prices skyrocketing.
The warnings came two days after a deadline expired for Iran to respond to incentives from six world powers, offered in exchange for a promise to curb its uranium enrichment.
