Oil prices jumped over 2% on Tuesday as uncertainty lingered over a U.S.-led coalition to protect shipping through the Strait of Hormuz.

With oil markets paralyzed by the U.S.-Iran war, the Trump administration says it could escort ships through the Strait of Hormuz — a massive undertaking that experts say could already be in the preparatory stages.

Midwest slammed by record-shattering blizzard; TSA callout rate surges as DHS shutdown continues; Trump urges allies to help escort ships through Strait of Hormuz; and more on tonight’s broadcast.

The White House believes tanker traffic through the Strait of Hormuz will increase before Navy escorts are deployed, Treasury Secretary Scott Bessent said.

Fox News chief national security correspondent Jennifer Griffin reports on U.S. Central Command strikes on Iran’s Kharg Island and the Pentagon deploying additional sailors and Marines to the Middle East on ‘Special Report.

Oil futures finished sharply lower Monday, with U.S. prices down by more than 5%, as traders continued to weigh developments in the Iran conflict.

President Donald Trump said Monday that some U.S. allies are not willing to join a coalition to protect tankers in the Strait of Hormuz.