{"id":64610,"date":"2026-07-09T10:27:41","date_gmt":"2026-07-09T14:27:41","guid":{"rendered":"https:\/\/www.rightwinggranny.com\/?p=64610"},"modified":"2026-07-09T10:27:41","modified_gmt":"2026-07-09T14:27:41","slug":"everyone-eventually-runs-out-of-patience","status":"publish","type":"post","link":"https:\/\/www.rightwinggranny.com\/?p=64610","title":{"rendered":"Everyone Eventually Runs Out Of Patience"},"content":{"rendered":"<p>On Wednesday, <a href=\"https:\/\/www.zerohedge.com\/geopolitical\/qatari-lng-tanker-hit-iranian-missile-hormuz-chokepoint?fbclid=IwY2xjawS7VkRleHRuA2FlbQIxMQBzcnRjBmFwcF9pZBAyMjIwMzkxNzg4MjAwODkyAAEeqzjUqzkB0m92cgK-lL_7Pbs_dK2x8zRb3GzNGB2MnU7OkoRQ-RshH5Dy_rg_aem_xTNs6MAl2RT8xiyxKyAKcQ\" target=\"_blank\" rel=\"noopener\">Zero Hedge<\/a> posted an update on what is happening in Iran and the Strait of Hormuz.<\/p>\n<p>The article reports:<\/p>\n<ul>\n<li><em><span style=\"text-decoration: underline;\"><strong>US strikes on Iran announced<\/strong>,<strong> as &#8216;heavy costs&#8217;<\/strong><\/span> for earlier targeting of multiple commercial vessels<\/em><\/li>\n<li><em>Oil rises as Treasury <span style=\"text-decoration: underline;\"><strong>revokes June 21 Iran oil waiver<\/strong><\/span><\/em><\/li>\n<li><em>Hormuz Threat Level Raised To &#8220;<strong>Severe<\/strong>&#8221;\u00a0<\/em><\/li>\n<li><em><span style=\"text-decoration: underline;\"><strong>Three maritime incidents<\/strong><\/span> reported on Hormuz in last 24 hours\u00a0<\/em><\/li>\n<li><em>Another\u00a0<span style=\"text-decoration: underline;\"><strong>unidentified vessel hit<\/strong><\/span> by a Drone<\/em><\/li>\n<li><em>IRGC forces <span style=\"text-decoration: underline;\"><strong>hit a Saudi Tanker\u00a0<\/strong><\/span><\/em><\/li>\n<li><em>IRGC forces <span style=\"text-decoration: underline;\"><strong>hit a Qatari LNG tanker<\/strong><\/span><\/em><\/li>\n<\/ul>\n<p>These are the actions of a cornered animal fighting for its life.<\/p>\n<p>The article concludes with a summary of the impact of the current situation:<\/p>\n<div class=\"NodeContent_body__DiE4u NodeBody_container__JQPDV\">\n<p><strong>Diplomatic Developments<\/strong><\/p>\n<p style=\"padding-left: 40px;\"><strong><em>\u2022 Iran&#8217;s Foreign Minister Abbas Araghchi warned on Tuesday that negotiations on a final deal will not commence if threats continue, referencing a memorandum of understanding with the US<\/em><\/strong><\/p>\n<p style=\"padding-left: 40px;\"><strong><em>\u2022 Iranian President Masoud Pezeshkian will travel to Iraq on Tuesday to attend funeral processions for former Supreme Leader Ali Khamenei, scheduled for Wednesday in Najaf and Karbala<\/em><\/strong><\/p>\n<p><strong>Market Impact<\/strong><\/p>\n<p style=\"padding-left: 40px;\"><strong><em>\u2022 European natural gas prices surged as much as 6% on Tuesday, the most in a month, following the attacks on ships in the Strait of Hormuz<\/em><\/strong><\/p>\n<p style=\"padding-left: 40px;\"><strong><em>\u2022 Oil prices climbed on Tuesday, with Brent trading near $73 a barrel, as the attacks highlighted continued risks to vessels in the critical waterway<\/em><\/strong><\/p>\n<p style=\"padding-left: 40px;\"><strong><em>\u2022 Gold fell for a second day on Tuesday, dropping as much as 1.2% to below $4,120 an ounce, as the Hormuz attacks rekindled inflation concerns<\/em><\/strong><\/p>\n<p style=\"padding-left: 40px;\"><strong><em>\u2022 France lowered its 2026 GDP growth forecast to 0.7% from 0.9%, citing the Middle East conflict as a factor holding back output<\/em><\/strong><\/p>\n<p><strong>Oil Trade Developments<\/strong><\/p>\n<p style=\"padding-left: 40px;\"><strong><em>\u2022 India&#8217;s state-run refiners are in talks with traders marketing Iranian crude and preparing to buy barrels if the US extends waivers beyond August or eases restrictions<\/em><\/strong><\/p>\n<p style=\"padding-left: 40px;\"><strong><em>\u2022 Two supertankers hauling Saudi crude are heading to the US for the first time since February, following the reopening of the Strait of Hormuz<\/em><\/strong><\/p>\n<p style=\"padding-left: 40px;\"><strong><em>\u2022 Russia&#8217;s Urals crude price averaged $41.66 a barrel at western ports in early July, falling to pre-Iran war levels and less than half the level during the height of oil market turmoil in April<\/em><\/strong><\/p>\n<p>There are a lot of moving parts here.<\/p>\n<p>For instance, according to Artificial Intelligence (AI):<\/p>\n<p style=\"padding-left: 40px;\">To understand the price of oil needed to sustain the Russian economy today, consider the following factors:<\/p>\n<ol>\n<li style=\"list-style-type: none;\">\n<ol>\n<li><strong><span style=\"text-decoration: underline;\">Budget Breakeven<\/span>: The Russian government requires oil prices to be around $40-$50 per barrel to balance its budget.<\/strong><\/li>\n<li><strong>E<span style=\"text-decoration: underline;\">conomic Stability<\/span>: Prices above $60 per barrel are generally needed for economic stability and growth.<\/strong><\/li>\n<li><strong><span style=\"text-decoration: underline;\">Inflation Control<\/span>: Higher oil prices help manage inflation and support the ruble&#8217;s value.<\/strong><\/li>\n<li class=\"fstHidden\" tabindex=\"0\"><strong><span style=\"text-decoration: underline;\">Social Spending<\/span>: Sustaining social programs and pensions often requires oil prices to exceed $70 per barrel.<\/strong><\/li>\n<li><strong><span style=\"text-decoration: underline;\">Global Market Influence<\/span>: Fluctuations in global oil demand and geopolitical tensions can impact the necessary price for sustainability.<\/strong><\/li>\n<li><strong><span style=\"text-decoration: underline;\">Long-term Investments<\/span>: To fund future projects and infrastructure, prices above $80 per barrel are preferable.<\/strong><\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<p>Russia is an ally of Iran. Russia needs high energy prices to sustain its economy. Did Russia play a role in encouraging the attacks in the Strait of Hormuz?<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>On Wednesday, Zero Hedge posted an update on what is happening in Iran and the Strait of Hormuz. The article reports: US strikes on Iran announced, as &#8216;heavy costs&#8217; for earlier targeting of multiple commercial vessels Oil rises as Treasury &hellip; <a href=\"https:\/\/www.rightwinggranny.com\/?p=64610\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[246,19702,1886,11638,1663,19768,8976],"class_list":["post-64610","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-iran","tag-memorandum-of-understanding-mou","tag-oil-prices","tag-russian-economy","tag-strait-of-hormuz","tag-us-strikes-on-iran","tag-zero-hedge"],"_links":{"self":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/64610","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=64610"}],"version-history":[{"count":1,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/64610\/revisions"}],"predecessor-version":[{"id":64611,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/64610\/revisions\/64611"}],"wp:attachment":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=64610"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=64610"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=64610"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}