Oil prices have fluctuated for two days, with the highest single-day percentage drop since 2022. The White House corrected a claim by Secretary of Energy Chris Wright that the U.S. Navy successfully escorted an oil tanker through the Strait of Hormuz, which is one of several options the administration has suggested to reduce prices. The administration has also ordered the U.,S. International Development Finance Corporation to offer political risk insurance to tankers operating in the Gulf. Additionally, the Treasury Department has lifted oil sanctions, allowing India to import Russian oil.