Topline
President Donald Trump said he’s “close” to deciding whether to launch a “massive attack” against Iran bigger than the initial strikes in February, he told Axios in a new interview published Thursday as Brent oil prices surpassed $100 a barrel.
President Donald Trump and Secretary of Defense Pete Hegseth attend a dignified transfer solemn event for US service members killed during operations in the Middle East, at Dover Air Force Base in Dover, Delaware, on July 22, 2026. (Photo by SAUL LOEB / AFP via Getty Images)
AFP via Getty Images
Key Facts
Trump said he is “close to making a decision,” telling Axios, “we’re all set for it.”
The Iranians, Trump said, “want to negotiate,” but “they haven’t received enough pain yet.”
Trump made the comments amid multiple political warning signs related to the war: the House voted Thursday to restrict Trump’s ability to continue the war against Iran and oil prices for international benchmark Brent crude surpassed $100 a barrel for the first time since May.
Meanwhile, Trump escalated his threats against Iran-backed Houthi rebels in Yemen after they attacked Saudi ships in the Red Sea, warning the group would face “major military punishment” if they struck any more vessels.
Crucial Quote
“The problem with Iran is every time they make a deal, the people that are in charge there, they either break it or they want to change it,” Secretary of State Marco Rubio said Thursday while speaking to reporters during a visit to the Philippines. “The price will continue to get higher every single night until they come to their senses,” he said, referring to the severity of U.S. attacks.
Tangent
The price of oil surpassed $100 on Thursday as the Houthi attacks in the Red Sea threatened the key shipping lane. Oil prices are 40% higher than they were in February, before the war, according to The New York Times.
Key Background
The U.S. and Iran have traded attacks for nearly 14 consecutive days after the memorandum of understanding signed last month unraveled amid disagreement over who controls the Strait of Hormuz. Trump’s threat on Thursday is his latest aggressive rhetoric toward Iran, after warning Wednesday the U.S. will bomb one Iranian bridge or power plant every time the Iranians shoot at a vessel in the Strait of Hormuz.
further reading
House—Again—Votes To Limit Trump’s War Powers In Latest Iran War Rebuke (Forbes)
Houthis Attacked Saudi Arabian Ships, Trump Says (Forbes)
Trump Says U.S. Will Bomb Key Infrastructure ‘Any Time’ Iran Shoots At Ships In Strait Of Hormuz (Forbes)
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