Yesterday, when looking at recent naval developments in the Arabian Sea, we suggested [5]that things involving Iran had gotten quiet. Too quiet. It appears that it may indeed have been the lull before the storm. Just out from Bloomberg and Reuters:
- IAEA SAYS URANIUM PARTICLES ENRICHED UP TO 27% AT FORDOW SITE, HIGHER THAN REPORTED LEVEL
- IRAN DOUBLED 20% URANIUM OUTPUT IN QUARTER, IAEA SAYS
- IAEA INSPECTORS SAY NO GUARANTEE ALL NUCLEAR MATERIAL PEACEFUL
- IRAN TELLS INSPECTORS THAT 27% URANIUM A TECHNICAL GLITCH
- IRAN HAS INSTALLED 368 NEW ENRICHMENT CENTRIFUGES AT FORDOW UNDERGROUND SITE - REUTERS
As a reminder, Uranium enriched over 20% is considered "Highly Enriched [6]." The only question we have is whether the enrichment level will increase the closer we get to the November presidential election, and whether there is a threshold rating in someone's popularity, pardon, in the enrichment level, which will trigger the Iranian invasion by one or more powers, now that WTI is safely in 9X handle territory and sliding.