President Trump is calling for a coalition of countries to send warships to secure the Strait of Hormuz, which is responsible for 20% of the world’s oil supply. Japan and Australia said they were not planning on sending naval vessels to escort ships through the strait. It comes as Brent crude oil is trading near $105 a barrel today. According to AAA, the average price for a gallon of gas in the U.S. has hit $3.70, up from $3.45 a week ago and $2.93 a month ago. Meanwhile, U.S. Energy Secretary Chris Wright said on Sunday that there were “no guarantees” that oil prices would fall soon. Newt Gingrich, the former Republican House speaker, urged the U.S. to conduct “a dozen thermonuclear detonations” in the region to create a new shipping lane.