Iran tries lift price of oil with missile tests

BBC:

Iran has test-fired nine missiles, including a new version of the Shahab-3, which is capable of reaching its main regional enemy Israel.

The Shahab-3, with a range of 2,000km (1,240 miles), was armed with a conventional warhead, state media said. Iran has tested the missile before, but the latest launch comes amid rising tensions with the US and Israel over the country's nuclear programme.

The early morning launch at a remote desert site sent oil prices climbing.

White House spokesman Gordon Johndroe called on Iran to "refrain from further missile tests if they truly seek to gain the trust of the world".

Two other types of missile with shorter ranges were also fired as part of the Great Prophet III war games being staged by Iran's military.

...

In recent days the price of oil has been dropping. Iran has a history of doing something provocative when this happens. They appear to be deliberately manipulating the market for oil by threatening to destabilize the supply. Their annual Great Prophet war games are turning into the Great Profit war games.

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