Well, even with this shaky ceasefire, some warn the energy infrastructure in the Middle East will take months to recover, and prices may not drop as much as hoped.

Our William Brangham has more on this part of the story. William?

That's right, Jeff. As we mentioned, it is unclear if the straight is really open. And even if so, there is still great hesitation about sending multi-million

dollar vessels through it.

Separately, there were additional attacks earlier today on energy infrastructure.

One thing that is clear, consumers are feeling the pain at the pump.

Gas prices are over $4 a gallon nationally.

So for more on what this all means, we are joined by Jason Bordoff.

He's the founding director of the Center on Global Energy Policy at Columbia University.

Jason, thank you so much for joining us.

Does this alleged ceasefire, as much as we can call it that,

give you any sense about what happens going forward with

regards to energy prices? Well, as you've been talking about with your correspondence, the only

thing lacking from this ceasefire is for people to cease firing. And we've seen Iran today

strike many of its neighbors. Israel strike Lebanon.

And as long as that's the case, that does not give confidence to the oil tankers sitting in the Gulf,

trying to get out to deliver oil to the market to go through.

We saw maybe three or four reports differ.

A couple of tankers move through today.

But until oil starts flowing again, and it is not

yet, and this ceasefire, as you said, is very tenuous. The market is still short, and we saw the sort

of traded price of oil come down, but the physical price that people are willing to pay is still

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