US, Iran Trade Strikes as DC Mourns Graham | Balance of Power 7/13/2026

On the early edition of Balance of Power, Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz discusses the latest from DC. On today's show, Hudson Institute Senior Fellow Rebeccah Heinrichs, Stonecourt Capital Partner Rick Davis, Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino and Chairman of Advancing American Freedom and Former Director of Legislative Affairs at the White House Marc Short Chapters 00:00:00 Balance of Power: Early Edition 00:00:40 Strait of Hormuz Blockade Returns 00:02:30 Market Update: Oil Surges, Stocks Slide 00:05:25 Trump's New Strait of Hormuz Policy 00:08:00 Lindsey Graham's Death Reshapes Washington 00:09:00 Who Will Replace Sen. Lindsey Graham? 00:12:50 Rebecca Heinrichs on Iran Strategy 00:15:20 Can the U.S. Sustain the Strait of Hormuz Mission? 00:19:05 Market Update: Oil Jumps, Chip Stocks Fall 00:21:30 Paramount Faces Antitrust Challenge 00:22:15 How Lindsey Graham Influenced U.S. Foreign Policy 00:27:40 Graham's Political Evolution Under Trump 00:32:35 Market Update: Energy Rallies, Tech Weakens 00:35:20 Oil Prices Spike on Middle East Escalation 00:37:40 Congress Faces Funding & Shutdown Risks 00:42:50 Is the Iran Conflict Expanding? 00:45:00 South Carolina's Next Senator 00:46:45 The Future of the Republican Party After Graham -------- More on Bloomberg Television and Markets Like this video? Subscribe and turn on notifications so you don't miss any videos from Bloomberg Markets & Finance: https://tinyurl.com/ysu5b8a9 Visit http://www.bloomberg.com for business news & analysis, up-to-the-minute market data, features, profiles and more. Connect with Bloomberg Television on: X: https://twitter.com/BloombergTV Facebook: https://www.facebook.com/BloombergTelevision Instagram: https://www.instagram.com/bloombergtv/ Connect with Bloomberg Business on: X: https://twitter.com/business Facebook: https://www.facebook.com/bloombergbusiness Instagram: https://www.instagram.com/bloombergbusiness/ TikTok: https://www.tiktok.com/@bloombergbusiness?lang=en Reddit: https://www.reddit.com/r/bloomberg/ LinkedIn: https://www.linkedin.com/company/bloomberg-news/ More from Bloomberg: Bloomberg Radio: https://twitter.com/BloombergRadio Bloomberg Surveillance: https://twitter.com/bsurveillance Bloomberg Politics: https://twitter.com/bpolitics Bloomberg Originals: https://twitter.com/bbgoriginals Watch more on YouTube: Bloomberg Technology: https://www.youtube.com/@BloombergTechnology Bloomberg Originals: https://www.youtube.com/@business Bloomberg Quicktake: https://www.youtube.com/@BloombergQuicktake Bloomberg Espanol: https://www.youtube.com/@bloomberg_espanol Bloomberg Podcasts: https://www.youtube.com/@BloombergPodcasts