Iran`s Revolutionary Guards Hold War Games

Iran`s elite Revolutionary Guards began military manoeuvres on Monday, news agencies said, the same day the U.S. Navy said it was carrying out an exercise in the Gulf.

The war games were conducted by missile units of the Guards` naval and air forces, the Fars and Mehr news agencies said. They said the exercises, which began a few hours ago, were aimed at improving combat readiness and capability.

The reports did not give details of where the exercise was taking place. The Guards often conduct manoeuvres in the Gulf.

Speculation about a possible attack on Iran because of its disputed nuclear programme has risen since the New York Times newspaper reported last month that Israel`s armed forces had practised such a strike.

Fear of an escalation in the standoff between the West and Iran, the world`s fourth largest oil producer, has helped propel oil prices over $140 a barrel.

The head of the Revolutionary Guards said in