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Axios AM: Trump’s next targets
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  View in browser PRESENTED BY AMAZON Axios AM By Mike Allen · Jul 15, 2026 Hello, Wednesday! Smart Brevity™ count: 1,629 words … 6 mins. Thanks to Noah Bressner for orchestrating. Edited by Andrew Pantazi and Bill Kole. Situational awareness: Spain stunned star-studded France 2-0 yesterday to reach the World Cup final.England and Argentina play today for the second spot (3 p.m. ET). 1 big thing: Trump’s next targets  Screenshot: Fox News Intel from Axios’ Barak Ravid:President Trump held a Situation Room meeting yesterday to discuss a massive offensive against Iran far beyond the current strikes around the Strait of Hormuz, three knowledgeable sources said. Why it matters: Trump appears willing to bet that escalating the war will force the Iranian regime to open the Strait of Hormuz and accept his nuclear demands. Trump convened the meeting as the U.S. military conducted strikes around the Strait of Hormuz and along Iran’s southern coast for the fourth day in a row. U.S. officials said the strikes were meant to gut Iran’s ability to attack ships in the Strait of Hormuz. Yesterday afternoon, the U.S. naval blockade on Iranian ports took effect, and last week, Trump notified Congress the nation was once again at war with Iran.  Inside the room: Trump was joined in the Situation Room by his national security team, including Vice President JD Vance, Secretary of State Marco Rubio, Defense Secretary Pete Hegseth, Chairman of the Joint Chiefs Gen. Dan Caine, CIA Director John Ratcliffe, White House envoy Steve Witkoff and other senior officials, the sources said.The sources said the meeting focused on plans to hit strategic targets in Iran, in addition to the strikes in the Strait of Hormuz. In an interview with Fox News’ Trey Yingst before the Situation Room meeting, Trump said the strikes would expand in the coming days. The U.S. military is going to hit Iran “hard” over the next three days, he said, before stressing that strikes could significantly escalate after that. “Next week, it gets really bad for them because next week comes the power plants,” Trump said. “Next week comes the bridges. We’re gonna knock out all their power plants. We’re gonna knock out all their bridges unless they get to the table and negotiate.”  What to watch: Trump said the U.S. is monitoring suspicious Iranian activity at Pickaxe Mountain, a site so deep underground that the U.S. and Israel think Iran wants to use it to shelter its nuclear program from airstrikes.Trump said the U.S. bunker busters “can go deep” but claimed “nobody knows” if they can reach Pickaxe Mountain.Share this story.      2.  The Gulf repriced overnight  Cargo ships anchor near the Strait of Hormuz off the eastern coast of the UAE this week. Image from AFPTV video The price of oil popped to a one-month high, with Goldman Sachs warning of a rise back over $100 a barrel, after Iran hit two UAE oil tankers. Tehran threatened to halt all Mideast energy exports after the U.S. military reimposed a naval blockade on Iran .  Gas, which had been ticking down, is back up to a national average of $3.89 for a gallon of regular. Diesel, vital to keep the economy moving,is pushing back toward $5 a gallon.Between the lines: Shippers are balking at the Gulf, and refiners don’t know if chartered cargo will arrive. Iran appears to be targeting the oil market’s “lifeline” with its latest strikes. The bottom line: Fuel, plastics and freight look like they’re getting more expensive, with the fallout likely to keep hitting consumers in the months before November’s midterms. |
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