Global oil prices hit $100 a barrel July 23 after Iranian-supported Houthi forces announced attacks on two oil tankers from Saudi Arabia, a U.S. ally. The price of benchmark Brent crude oil rose 6% following the Houthi attacks in the Red Sea.

New attacks and threats by Yemen's Houthi rebels in the Red Sea have caused some ships to turn around.

Earlier in the day, Trump threatened the Houthis with "major military punishment" after the Tehran-backed militant group in Yemen claimed on Thursday they struck two Saudi oil tankers transiting throu...