Kelly, thank you very much. Welcome to closing bill. I'm Scott Wobner live once again from Future Proof here in Miami Beach.

The story of the day, no doubt, this rebound in stocks, but it is a fast-moving market. It is volatile yet again as we begin this final stretch.

We're showing you where we stand. We are well off the best levels of the session.

Oil clearly a big story.

Yes, it's lower by more than 11%.

It was down a lot more a short time ago.

There are some fast moving developments there as well.

And we'll get to that in just a moment.

We did start moving lower in oil from the get-go.

Stocks were certainly up off the jump.

If you take a look at what the sectors are doing, you had a really good day.

Only two sectors were in the red.

Now, that picture has changed as well.

I'll discuss all of this with our panel, whether you can trust the bounce in stocks today.

But first, let's get to Pippa

Stevens, who is following this oil market and these developments in a bit of a whipsaw action

to this market today. Pippa, tell us more. That's right, Scott. So it really was a whipsaw

hour for oil as the market reacted to conflicting reports about what is happening in the

strait of Hormuz.

White House Press Secretary Caroline Levitt saying just now that, quote,

the U.S. Navy has not escorted a tanker or a vessel through the strait,

but that it is an option.

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