Oil surges to $100 per barrel. And, Trump imposes a new round of tariffs

Oil surged to $100 per barrel after Iran-backed Houthi rebels attacked two Saudi tankers in the Red Sea. And, President Trump overnight replaced expiring tariffs with a slew of new ones.

<img src='undefined' alt='President Trump delivers remarks on the Ratepayer Protection Pledge during a roundtable at the Environmental Protection Agency headquarters on July 23, 2026, in Washington, D.C..'/><p>Oil surged to $100 per barrel after Iran-backed Houthi rebels attacked two Saudi tankers in the Red Sea. And, President Trump overnight replaced expiring tariffs with a slew of new ones.</p><p>(Image credit: Kevin Dietsch)</p><img src='https://media.npr.org/include/images/tracking/npr-rss-pixel.png?story=g-s1-135418' />