INTERNATIONAL DESK

The New York Times is expected to report today (Saturday) that the missile tests by Iran appear to be "smoke and mirrors".

The missile tests do not according to the leaked report, (excerpts seen by the London Daily News), have the range of 2000 kilometres, and Iran did not launch the Shahab 3 missile system, which can hit Israel in the tests.

The Drudge Report which has the exclusive on this story has said that the missiles were older and out of production, the missile being fired was one being filmed in different direction.

Global stock markets have reacted badly to the prospect of war in the Perian Gulf with crude hitting a reocrd $147 a barrel and the FTSE close its lowest since 2005 at 43.5, or 0.8 percent, to 5,363.3

Source: Drudge Report