Israel's president called the presence of Iranian warships in the Suez Canal a "provocation" and not a serious "threat," but he warned an audience of Europeans that they face an "existential" danger from the regime's nuclear program.
Two Iranian warships will cross the Suez Canal on Tuesday, four days after Egypt's post-Hosni Mubarak government gave the green light to the passage, Egyptian state-run news website EgyNews reported Monday.
The Egyptian crisis has sent oil prices to a 2-year high above $92 a barrel, up 5.5% in two trading sessions, due to concern the turmoil could spread to Middle East nations that are bigger crude producers.
Was Egypt only a one-day story for Wall Street? Stocks took a somewhat nasty tumble Friday as protests in Cairo spooked traders. Investors worried that more turmoil in the Arab world could create major supply disruptions for oil.
Two Chinese destroyers and a supply ship set sail Friday for the Gulf of Aden on a mission to protect Chinese merchant ships from an increasing number of pirate attacks occurring in the waters off Somalia, state media reported.