Fate of Iran Ceasefire Uncertain After Escalation | Balance of Power 07/09/2026

"Balance of Power: Late Edition" focuses on the intersection of politics and global business. On today’s show, Wendy Sherman, former Deputy Secretary of State in the Biden administration and lead US negotiator for the 2015 Iran nuclear deal, says diplomacy with Iran is "quite challenged" and argues recent negotiations were "never serious or as complex as they needed to be." Matt Robison, a former Democratic campaign manager and legislative director who has worked with members of Maine’s congressional delegation, says Democrats are getting a chance to reset Maine’s Senate race after Graham Platner suspended his campaign following a sexual assault allegation he denies. Mike Sommers, President and CEO of the American Petroleum Institute, says oil markets have held up better than many feared during the latest US-Iran escalation. But Sommers warns prices will remain elevated as long as traffic through the Strait of Hormuz is restricted.

Chapters:

00:01:49 Bloomberg’s Jeff Mason on US, Iran Trade Airstrikes as Fears Grow of a Return to War
00:04:54 Wendy Sherman, Former Deputy Secretary of State in the Biden Administration, on Fate of Iran Ceasefire Uncertain After Escalation
00:13:35 Wendy Sherman on Trump Says He Will Let Ukraine Make Patriot Missiles
00:16:06 Power Moves: Top Financial Moves
00:20:03 Matt Robison, a Former Democratic Campaign Manager, on Platner Suspends Maine Senate Campaign
00:25:02 The Debrief with Mario Parker: Trump’s Iran Escalation Creates GOP Headache
00:28:58 Mike Sommers, President and CEO of the American Petroleum Institute, on Hormuz Shipping Grinds to Near Halt After US, Iran Strikes
00:34:15 Mike Sommers on Idea of Suspending Federal Gas Tax
00:39:03 Political Panel Reacts: Platner Suspends Campaign, Democrats Path Narrows to Win Senate, Talarico’s $30M Haul Crushes Paxton in Texas Race
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