Pakistan Says US-Iran Deal Nears | Radio Balance of Power: Early Edition 8/11/2026

Summary

The episode covers US-Iran tensions over the Strait of Hormuz, Pakistan's claim that a deal is near, oil market implications, and US midterm primary elections. Morgan Ortagus argues the US has maximum pressure on Iran via blockade and sanctions, while oil prices remain manageable. Primary races in Wisconsin, Minnesota, and South Carolina are analyzed. Market updates note a slight decline in equities ahead of CPI and a sell-off in On Holding.

• US fires on a ship trying to run the Hormuz blockade; Pakistan says a US-Iran arrangement is close.
• Energy Secretary says about 9 million barrels/day are moving through the strait, plus overland pipeline flows.
• Morgan Ortagus asserts the naval blockade and economic sanctions are hurting Iran, with oil in the low $80s.
• Midterm primaries include key progressive vs. moderate Democratic contests in Wisconsin and Minnesota.
• Marc Short discusses the political headwinds for Republicans and the role of Democratic socialist candidates.
• Equities trade slightly lower, oil edges higher ahead of the upcoming CPI report.
• On Holding (ONON) shares drop 20% after disappointing sales; Intel, Paramount also mentioned in market flashes.