Iran targets US bases as blockaded oil market nears exhaustion

Monday, July 13, 2026 · from 2 podcasts, 3 episodes

Iranian forces conducted retaliatory strikes on U.S. bases in Kuwait and Bahrain.
Trump's blockade campaign risks pushing gasoline to $5 as strategic reserves hit 90 million barrels.
Netanyahu undercuts U.S. diplomacy by branding Turkey a threat to Israeli air superiority.

The fragile ceasefire in the Strait of Hormuz evaporated. After U.S. airstrikes targeted 90 Iranian assets, Iran responded by hitting U.S. bases in Kuwait and Bahrain. On Breaking Points, Saagar Enjeti noted the strikes were surgical, sparing civilian infrastructure, but the tension shattered the brief calm in oil markets.

Trump declared the memorandum of understanding a waste of time and promised to 'finish the job,' campaigning on a total blockade to force the strait open. On Bitcoin And, David Bennett argued these escalations act as a convenient market brake when equities and crypto run too hot, citing a 7.5% spike in Brent crude to $79.64. Bennett views the timing with deep skepticism, suggesting the volatility is about a total collapse of media trust where investors can't distinguish organic conflict from manufactured signals.

"We are currently living in a peace process where there is no peace."
- Saagar Enjeti, Breaking Points

Ryan Grim argued on Breaking Points that Trump's strategy ignores the physical reality of the Strait, which Iran and Oman control. Grim warned pushing for capitulation risks driving gasoline prices to $5 a gallon, turning Trump into a modern-day Herbert Hoover before the election. The U.S. Strategic Petroleum Reserve is critically low at around 90 million barrels, leaving no margin for error.

Regional diplomacy fractured simultaneously. On Breaking Points, Saagar Enjeti detailed Netanyahu making a rare play on American TV to block F-35 sales to Turkey. Enjeti argued this isn't about U.S. safety, but about preserving an 'imbalance' of power that favors Israeli air superiority. Trump responded by praising Turkey's loyalty and stating the sale is 'something we would consider,' signaling a potential rift.

"Trump wants to court Turkey as a regional partner, but Netanyahu is trying to brand them as the next great threat."
- Saagar Enjeti, Breaking Points

The result is a region sliding into a high-stakes standoff with no clear exit, where military escalation risks economic exhaustion at home.

2 Sources:

Breaking Points Bitcoin And

#War #Energy #Middle East

Ryan Grim David Bennett Iran Strait of Hormuz Turkey

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Breaking Points with Krystal and Saagar

7/9/26: Iran Hits US Bases, Trump Says US Should Finish The Job, Platner Drops Out Of Maine Senate Race • Jul 9

Saagar notes US strategic petroleum reserves are critically low at around 90 million barrels, complicating the response to Strait of Hormuz disruptions.
Saagar states gas prices remain high nationally at $3.84, with California at $5.38, framing it as a transit tax on Americans exacerbated by Middle East conflict.
Graham Platner announced his withdrawal from the Maine Senate race in an 11-minute video, denying allegations and claiming the Democratic establishment orchestrated a coup.
Ryan Grim critiques Platner's response, noting he failed to offer his side of the story or acknowledge the accuser's experience, leaving supporters without a narrative.
Saagar sees the Platner situation as an establishment witch hunt using journalism as a pretext to destroy a populist movement and discredit its supporters nationally.
Ryan Grim explains Maine Democrats plan a 600-person convention to replace Platner, with 500 delegates elected by county committees, creating an organizing opportunity for his grassroots movement.
Platner's internal poll showed him trailing Susan Collins by five points, while potential replacements Troy Jackson and Janet Mills also polled closely against Collins.

Also from this episode: (5)

War (3)

Iran retaliated against US bases in Kuwait, Qatar, and Bahrain, targeting Patriot missile systems, early warning satellites, and fuel storage facilities, following US strikes on dozens of Iranian military targets.
Ryan Grim argues the US conflict strategy with Iran is repeating mistakes, assuming brief strikes will force negotiation, while Iran threatens significant retaliation.
Ryan Grim asserts US ballistic missile interceptor stockpiles are depleted, with more used for Israel and US ships in Iran than in the entire Ukraine war.

Media (2)

Ryan Grim argues independent media's obligation is to scrutinize serious allegations, citing past cases like Alex Morse and Scott Stringer, even when it invites backlash.
Saagar criticizes Columbia Journalism Review for defending Politico's reporting and attacking Mika Brzezinski's adversarial questioning of the reporter on the Platner story.

#War #Macro #Energy #Elections #Diplomacy

7/8/26: Trump Says Iran Ceasefire Over, Bibi Rages Over Turkey, Platner Fallout Continues • Jul 8

Oil prices remain elevated with Brent crude around $76 per barrel and US gasoline at $3.70, a full dollar above pre-war levels. This economic pressure constrains Trump's ability to fully resume the war.
Trump responded to Netanyahu's pressure by praising Turkey's loyalty compared to other allies and stating the F-35 sale is 'something we would consider,' signaling a potential rift with Israel.
Sagaar framed Netanyahu's opposition to Turkey receiving F-35s as an effort to preserve Israel's regional air superiority, which he argues is the actual imbalance Israel seeks to maintain.
The Maine Democratic Party executive director declared Graham Platner will have no say in choosing his replacement if he resigns, triggering a conflict between the party establishment and Platner's movement.
Platner won more votes in the Maine Democratic primary than any candidate in state history. His campaign argues over 150,000 voters and 15,000 volunteers should decide his replacement, not the party establishment.
Politico omitted a key detail from its Platner assault story: the accuser texted 'I need my glute massage' before he arrived, which she said he misinterpreted as an invitation. This context was known but not included.
The accuser, Jenny Rascott, alleges a class A felony sexual assault in Maine with a 20-year statute of limitations. She says she deleted the relevant text messages soon after the incident.
Sagaar argues the left's immediate capitulation on Platner, without demanding an inclusive replacement process, has surrendered all leverage to the Democratic establishment and enabled a political purge.
Arizona candidate Kai New Kirk filed a complaint alleging foreign interference by Israel via a massive spending bomb against his campaign, citing attack by the 'Israel lobby.'

Also from this episode: (4)

War (4)

Trump declared the Iran ceasefire over, stating the Memorandum of Understanding is terminated and the US has reimposed sanctions on Iranian oil, which could provoke a major Iranian response and resumption of war.
Trump described retaliatory strikes on Iran as 'twenty to one' in US favor. He characterized Iran's leadership as 'sick' and 'evil' and vowed to denuclearize Iran.
The core dispute over the Strait of Hormuz involves Iran's demand for coordinated passage versus US insistence on free passage without coordination. Iran views control of the strait as its ultimate leverage in the war.
Israeli Prime Minister Netanyahu launched a public campaign on US cable news to block F-35 sales to Turkey, framing it as a threat to Israel's security and regional 'power balance.'

#Diplomacy #War #Elections #Media #Middle East

Bitcoin And | Bitcoin & Economic News

Mrs. Poly Gambling | Bitcoin News • Jul 8

David Bennett argues that escalating US-Iran conflict, marked by renewed airstrikes and Trump declaring the ceasefire 'over', caused downward pressure on Bitcoin and broader markets, while pushing oil prices and the dollar higher.
A Ledn survey found 88% of crypto investors would consider a crypto-backed loan, but only 14% actually use them. Bennett cites Bitcoin's historical volatility as a key obstacle, with 30%+ drops in 10 of the past 12 years.
Bennett reported Brent crude oil rose 7.5 points to $79.64, WTI crude rose 7%, and gasoline rose 5.8%, while metals like gold fell 2.8% and silver fell 5.7%, amid geopolitical tensions.
Nigel Farage resigned his UK parliamentary seat amid two investigations into crypto-linked gifts, including $6.7 million from investor Christopher Harburn and undisclosed support from convicted fraudster George Cottrell. Bennett sees this as an unforced error.

Also from this episode: (7)

Lightning (3)

Polymarket now supports instant Bitcoin deposits via Lightning Network using Spark protocol infrastructure, which validates transactions in under a second and handles confirmation risk. Bennett cautions that relying on Spark as a third party introduces a security risk.
Spark's design allows Polymarket to avoid managing confirmation thresholds or running its own Lightning nodes, crediting deposits instantly. Spark's SDK also handles on-chain and stablecoin rails, and wallets like Breeze, Xverse, and Cake build on it.
Radar Chat is a new messaging app built on Signal's protocol that integrates Lightning Network payments, allowing users to send Bitcoin within private conversations without switching apps. Bennett notes it has tested payments up to $5,000.

Protocol (2)

Strike launched a 'volatility-proof' Bitcoin-backed loan with no margin calls or forced liquidations, but it carries a 14% APR and a six-month term. Bennett views this as a costly product likely aimed at gamblers, not emergency business funding.
The Reserve Bank of India wants to bar financial institutions from crypto exposure and warns that dollar-pegged stablecoins threaten domestic monetary sovereignty. Bennett argues dollar stablecoins will inevitably bypass such regulations and accelerate global dollar dominance.

ETFs (1)

Vanguard is hiring a Head of Digital Assets to develop strategy for crypto, tokenization, stablecoins, and digital wallets, signaling a shift from its past skepticism. Bennett interprets this as capitulation to Bitcoin's permanence, not an imminent product launch.

Regulation (1)

SEC Chair Paul Atkins plans to introduce a crypto rulemaking with safe harbor exemptions this July, covering tokenized securities and DeFi. Bennett notes this progresses despite the stalled Clarity Act in Congress.

#BTC Markets #Macro #Stablecoins #Regulation