Tehran says it has tested new weapon

Iran announced that it has tested a new weapon capable of sinking ships nearly 200 miles away, and reiterated threats to close a strategic waterway at the mouth of the Persian Gulf if attacked.

Up to 40% of the world’s oil passes through the Strait of Hormuz, a narrow passage along Iran’s southern coast. If Tehran shut down tanker traffic there, oil prices could be expected to skyrocket.

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. A push for further sanctions is expected.