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Talking, not bombing. I'm Dave Anthony, FOX News. That's what President Trump prefers now with Iran holding off on a new wave of military strikes, telling reporters on Air Force One, we had an attack that
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would be the biggest attack since World War II and it would have been disasters.
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President Trump calling off planned strikes against Iran this weekend as he says a deal is close. According to the president, talks will resume today aimed at finalizing in a agreement on the Strait of Hormuz. Trump says he was asked by Qatar, the UAE and Saudi Arabia to hold off and diplomatic efforts are playing out.
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That's fox's Trey Youngst in Tel Aviv.
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International focus does remain on the Strait of Hormuz where an explosion was heard this morning by a tanker. According to maritime tracking groups, reports indicate that a new deal could see the strait open for 60 days without fees.
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Now the new pause and new talks have oil prices dropping about 5% this morning. WTI back just below 80 bucks a barrel. But Chevron CEO Mike Wirth Smith tells FOX Sunday MORNING Futures that shipping issues related to the conflict have put a real strain on oil supplies.
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How quickly that comes back will be one of the things that determines when markets actually get back to some sort of a new equilibrium at the gas pump.
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No change today. AAA's national average for regular still $4.09 per gallon. That's 2 cents less than last Monday. Well over a dollar higher though than before the Iran conflict. Acting Attorney General Todd Blanche's nomination may not be in limbo anymore ahead of tomorrow's committee vote. Last night, Blanche formally rescinded the controversial $1.8 billion Anti Weaponization Fund Trump IRS tax settlement. Democrats have been critical of the fund for people claiming to be political targets of the Biden Justice Department. Some Republicans have as well. And two GOP senators, John Cornyn and Thom Tillis, who've had a falling out with President Trump have demanded the fund be dissolved or else they would vote against Blanche's nomination to be attorney general, potentially blocking Blanche from being confirmed. America's listening to FOX News. Is Iran trying to mess with our water with cyber attacks that's being investigated with systems system is being interrupted in Minnesota and other states in the past week.
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Founder and national security director of the National Security Institute Jamil Jaffer reacting to the FBI investigating cyber attacks on states water and wastewater systems.
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You know, the best countries in cyber when it comes to cyber attacks are the United States ourselves, obviously the Russians, the Chinese, but Iran, North Korea are that next tier up. They're very capable. They have the ability to access our critical infrastructure systems.
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The telling Foxes America reports it's possible for advanced actors to mimic techniques in order to blame another party. The FBI saying as of Friday, at least seven states had reported water systems being attacked or disrupted. Kristen Goodwin, Fox News there's one last
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data campaign in Michigan and Missouri where there are primaries tomorrow. One race getting a lot of attention is in Michigan, where Democratic socialist Abdul EL Sayed is running for Senate, taking on Haley Stevens. The winner will be the Democrat taking on Republican Mike Rogers in November. One former Democratic senator, Joe Manchin, is worried about socialism.
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Joe Manchin co founded the Independent Leadership Council with his daughter. Both seek to elect more independent candidates. If that can happen, he said, they can get the major party's attention.
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Come to Washington. Do not caucus with either side. Be an independent. I'll guarantee you maybe you're going to make a difference of how they make their decisions because they're going to need you.
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Heather Manchin said they aren't looking for big numbers right now.
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A few in Congress, if we could get two or three elected, think of what the difference that independent block can make, one or two in the Senate.
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Both were on CBS. Face the Nation. Polls show at least 45% of adults don't identify with the two major parties. Gernall Scott, FOX News On Wall street,
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as oil prices fall, stock futures rise. Coming off Friday's gains, I'm Dave Anthony. This is FOX News.
Host: FOX News Podcasts
Date: August 3, 2026
This early morning episode provides a concise roundup of the latest major developments in US and global affairs, with a focus on President Trump’s Iran strategy, evolving oil markets, cybersecurity threats to infrastructure, and key primary election contests. The episode features breaking news from overseas, national interviews, and commentary from political and business leaders, emphasizing ongoing diplomatic efforts, cybersecurity risks, and the growing influence of political independents.
Key Developments: President Trump has called off planned US military strikes against Iran after conversations with leaders from Qatar, UAE, and Saudi Arabia. Diplomacy rather than military escalation is emphasized, as negotiations continue for a deal regarding the Strait of Hormuz.
Significance: Potential for a deal to reopen the critical shipping strait, impacting global oil prices and reducing the threat of war.
Notable Quotes:
Additional Details:
Market Response: News of paused military action and fresh talks have oil prices dropping by about 5%; WTI crude falls below $80/barrel.
Expert Insight: Shipping issues tied to the Iran conflict have caused supply strains.
Current Prices: AAA’s national average for regular gas remains at $4.09/gallon, down 2 cents from last week but still over a dollar higher than before the Iran conflict.
Notable Quote:
Federal Investigation: FBI is probing a series of cyberattacks on water and wastewater systems in at least seven states, possibly linked to Iran.
Expert Context: Advanced nations like Iran, North Korea, Russia, and China are capable of targeting US critical infrastructure.
Notable Quotes:
Upcoming Races: Primaries set for Michigan and Missouri. Spotlight on Michigan's Democratic Senate primary between Abdul El-Sayed (Democratic socialist) and Haley Stevens; winner to face Republican Mike Rogers in November.
Concerns Over Political Polarization: Former Senator Joe Manchin and daughter Heather Manchin promote independent candidacies, aiming to disrupt the two-party system.
Notable Quotes:
This FOX News Hourly Update frames the morning with major headlines: President Trump’s choice for diplomacy over conflict with Iran is reshaping global oil prices and energizing diplomatic negotiations. Markets respond with falling oil prices and rising stocks, while ongoing cyber threats underscore vulnerabilities in US infrastructure. The domestic political landscape heats up—with high-stakes primaries and growing interest in independent candidates. The newscast delivers succinct reporting and commentary, capturing the tension and shifts driving today’s news cycle.