Jordan Schroeder

Navy successfully escorted an oil tanker through the Strait of Hormuz.

However, the post was taken down and White House Press Secretary Caroline Leavitt corrected the claim the same day during a press briefing.

This sent oil prices back up to around $91 per barrel.

In response, the Trump administration, via the U.S.

International Development Finance Corporation, is going to offer political risk insurance to tankers operating in the Gulf, which is intended to ease the yo-yo effect going forward.