Analysts with ING financial group outlined four possible avenues for Iran: full escalation that also draws in other nations such as China or Russia; disruption of the Strait of Hormuz; active or passive support for terrorist attacks in the U.S. and Europe; or taking no action at all.

If Iran moves to blockade the Strait of Hormuz, prices could spike, but analysts see that scenario as unlikely for now.

Trump followed up with another post addressed to the U.S. Department of Energy, encouraging it to "drill, baby, drill" and saying, "I mean now." U.S. Energy Secretary Chris Wright responded, "We're on it!