Traders react to Strait of Hormuz closure

The average price of gas in the U.S. hit a wartime high of $4.30 on Thursday, according to AAA. Bloomberg's Michael Regan breaks down the latest numbers. 

And, the closure of the Strait of Hormuz has sent global energy prices skyrocketing and led to oil and gas shortages in parts of the world. Economic historian, author and S&P Global vice chairman Daniel Yergin says the Hormuz oil shock will lead to a new global balance of power. He joins us.

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