NPR News Now

NPR News: 03-23-2026 8PM EDT

5 min
Mar 24, 20262 months ago
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Summary

NPR News covers Trump's claims of Iran negotiations and a five-day deadline for reopening the Strait of Hormuz, though Iran disputes these claims. The episode also reports on oil price volatility tied to Trump's statements, Mark Wayne Mullen's confirmation hearing for Secretary of Homeland Security, Bill Cosby's $19 million civil judgment, and the Trump administration's $1 billion deal with Total Energies to exit offshore wind projects.

Insights
  • Oil markets are now responding more to political rhetoric and verbal signals than to physical market realities, creating significant price volatility based on unconfirmed negotiations
  • The Strait of Hormuz closure has reduced shipping traffic from 100+ vessels daily to just 2, representing a critical disruption to global energy supply chains
  • The Trump administration is systematically dismantling offshore wind development through policy and financial incentives, prioritizing natural gas over renewable energy
  • Iran's denial of active negotiations suggests potential miscommunication or deliberate messaging divergence between U.S. and Iranian governments
  • Rising gas prices are forcing gig economy platforms like DoorDash to introduce driver subsidies to maintain workforce participation
Trends
Political rhetoric driving commodity market volatility more than fundamentalsGeopolitical tensions creating critical chokepoints in global energy infrastructureShift away from renewable energy toward fossil fuels in U.S. energy policyGig economy platforms absorbing cost pressures through driver compensation programsOffshore wind industry facing regulatory and policy headwinds in the U.S.Gas prices rising 35% month-over-month, impacting transportation and delivery sectorsStrait of Hormuz effectively closed, threatening global oil supply stability
Companies
Total Energies
French energy giant signed $1B deal with U.S. government to exit offshore wind projects and reinvest in natural gas
DoorDash
Offering weekly payments to drivers to offset rising gas prices and maintain delivery workforce participation
Wood McKenzie
Research firm analyzing oil trader behavior and market response to geopolitical signals about Middle East conflict
Kepler
Shipping intelligence company tracking Strait of Hormuz vessel traffic, reporting decline from 100+ to 2 daily passages
AAA
Reported national average gas price at $3.96 per gallon, up 35% in one month
S&P Global
Hosted CIRA Week conference where Interior Secretary announced offshore wind policy changes
People
Donald Trump
Claims ongoing negotiations with Iran, extended deadline for Strait of Hormuz reopening, verbal signals driving oil m...
Mark Wayne Mullen
Oklahoma Republican nominated as Secretary of Homeland Security following Kristi Noem's firing
Kristi Noem
Fired by Trump over handling of mass deportations and disaster response
Patrick Pouyann
Described $1B agreement to forfeit offshore wind leases as innovative, plans LNG reinvestment
Doug Burgum
Announced offshore wind poses national security risks without specifying details
Bill Cosby
Lost $19 million civil suit for drugging and sexually assaulting woman in 1972, denies allegations
Ed Crooks
Explained oil traders' sensitivity to geopolitical signals about Middle East conflict resolution
Quotes
"We want to see peace in the Middle East. We want the nuclear dust. We're going to want that. And I think we're going to get that."
President TrumpEarly in episode
"Iran's foreign ministry says there's been no dialogue. Iran's parliament speaker called it, quote, fake news used to manipulate financial and oil markets."
NPR reportingIran response segment
"When President Trump posted in the morning about very good talks with Iran crude oil prices slid dramatically and stayed down even when Iran said talks were not underway"
NPR's Camilla DominoskiOil market analysis
"And that's why you're seeing prices swinging backwards and forwards on these little fragments of information."
Ed Crooks, Wood McKenzieOil volatility analysis
"Interior Secretary Doug Burgum said offshore wind poses risk to national security. The administration has so far not specified what those risks are."
NPR reportingOffshore wind segment
Full Transcript
Live from NPR News in Washington, I'm Rylan Barton. President Trump says the U.S. is talking with what he calls a respected Iranian leader and says the Islamic Republic is eager for a deal to end the war. Trump says he extended a deadline by five days for Iran to reopen the crucial Strait of Hormuz or face more attacks on its power plants. But as NPR's Aya Batraoui explains, Tehran has disputed Trump's claims. Here's what Trump told reporters this morning before boarding a flight. We want to see peace in the Middle East. We want the nuclear dust. We're going to want that. And I think we're going to get that. We've agreed to that. Yeah, we've agreed to that. But Iran's foreign ministry says there's been no dialogue. Iran's parliament speaker called it, quote, fake news used to manipulate financial and oil markets. But Iran did say there are efforts by countries in the region to reduce tensions right now. NPR's Aya Batraoui reporting. Oil prices are currently just under $90 a barrel. That's more than $10 down from where they ended last week. As NPR's Camilla Dominoski reports, the price of oil has been responding as much to Trump's verbal signals as to physical realities. When President Trump posted in the morning about very good talks with Iran crude oil prices slid dramatically and stayed down even when Iran said talks were not underway Ed Crooks with research firm Wood McKenzie says oil traders are jumping at the slightest hint about when the war will end. And that's why you're seeing prices swinging backwards and forwards on these little fragments of information. Meanwhile, the Strait of Hormuz remains effectively closed for business. Only two vessels passed through on Sunday, according to the shipping intelligence company Kepler, down from more than 100 a day pre-war. Camila Domenoski, NPR News. The Senate is set to vote on confirming Oklahoma Republican Senator Mark Wayne Mullen as the new Secretary of Homeland Security. It comes after President Trump fired Kristi Noem over her handling of mass deportations and disaster response. Bill Cosby has lost a civil suit in California on accusations of sexual assault. and the jury has awarded the woman who brought the suit against him more than $19 million in damages. NPR's Anastasia Tsiolkas reports. The jury found that the 88-year-old entertainer drugged and sexually assaulted the woman, Donna Motzinger, after taking her to one of his comedy shows in 1972. The jury in Los Angeles County Superior Court awarded Motzinger million in damages The jury also found for additional punitive damages against Cosby That amount has yet to be determined. Cosby has denied the allegations, as he has with all previous similar accusations made by dozens of women. This civil verdict is the latest legal battle for the disgraced entertainer. Cosby served about three years in a Pennsylvania prison on sexual assault charges before his conviction was overturned on technical grounds in 2021. Anastasia Tsilkas, NPR News. This is NPR News. DoorDash is offering extra money to drivers as part of a program to help offset rising gas prices. The national average price for gas hit $3.96 per gallon in the U.S., according to AAA. That's 35 percent higher than one month ago. Drivers will get a weekly payment depending on the number of miles they travel to make deliveries. French energy giant Total Energies has now signed a nearly $1 billion deal with the U.S. government to walk away from plants to develop offshore wind projects. NPR's Julia Simon reports. Total Energies CEO Patrick Pouyann describes the agreement to forfeit its leases for U offshore wind farms as quote innovative Pouyane says the company will reinvest some of the money into natural gas and liquefied natural gas projects Those energy sources release major amounts of planet heating greenhouse gases. It's the latest blow to the offshore wind industry from the Trump administration. Announcing this new deal at CIRA Week by S&P Global Conference, Interior Secretary Doug Burgum said offshore wind poses risk to national security. The administration has so far not specified what those risks are. Offshore wind is a reliable source of electricity in countries like the UK and Denmark. Julia Simon, NPR News, Houston. A British version of Saturday Night Live has debuted to largely positive reviews. The first episode of SNL UK was hosted by Tina Fey and stuck closely to the format of the U.S. original. It mixed sketches, fake ads, and a weekend update segment, as well as performances by a musical guest, Wet Leg. You're listening to NPR News from Washington. Listen to this podcast sponsor-free on Amazon Music with a Prime membership or any podcast app by subscribing to NPR News Now Plus at plus.npr.org. That's plus.npr.org.