Ending weeks of speculation, former Iranian President Mohammad Khatami announced Sunday that he will run against the hardline incumbent, President Mahmoud Ahmadinejad, according to Iranian media reports.
Reformer Mohammad Khatami will run against President Mahmoud Ahmadinejad in the June elections. CNN's Reza Sayah reports
Stocks fell at the start Monday after oil prices approached $74 a barrel on fresh concerns that the West's standoff with Iran would result in crude supply disruptions.
Ayatollah Ali Khameni, Iran's supreme leader, has warned the United States that any "misbehavior" directed at Iran would serve to disrupt Gulf energy shipments.