WBUR Podcasts, Boston.

There's no obvious big changes in production or any changes in the straight-of-hose condition.

It's really changing expectations.

Gas prices jump overnight, spiking the national average to $4.30 a gallon.

It's Thursday, April 30th, and this is here and now anytime from NPR and WBUR Boston.

I'm Shiko Thin Uri.

Today on the show, could this ongoing global oil crisis birth a new world order?

If the Strait of Hormuz remains closed, it's only going to get more difficult,

and what countries are doing is rationing supplies where they're really hard hit.

But people will be saying, well, we need to think much more about energy security than we have in the past.

But first, oil prices are up again.

Overnight, prices jump to their highest point since 2022, as investors fear the U.S.

and Iran are still far from a peace deal. Prices have since fallen back today, just as the

Commerce Department released a report showing GDP grew 2% in the first quarter of the year.

Mike Regan is managing editor at Bloomberg, and he breaks down the latest with Scott Tong.

Well, a big part of it is just traders in the energy markets are obviously looking at every

bit of news coming between the negotiations between President Trump and the leaders of Iran.

And when Axios reported yesterday, it was the first report anyway, that Trump basically

was rejecting Iran's latest offer because it did not resolve the nuclear weapon issue.

It just made it clear that this closure of the Strait of Hormuz through the United States, because it did not resolve the nuclear weapon issue.

It just made it clear that this closure of the Strait of Hormuz through which something like 20% of all the world's energy flows through,

all of its crude oil at least, it just confirmed their fears

...