Oil Prices Near $100 Amid US-Iran Tensions, Fed Rate Hike Speculation Rises

Oil prices are nearing $100 per barrel amid escalating tensions between the US and Iran. The increase in crude prices has led to speculation that the Federal Reserve will raise interest rates by 25 basis points this month, with odds now at 60%. This development is causing investors to focus on upcoming earnings reports from Chewy and American Eagle Outfitters for consumer insights, as well as Apple's iPhone event featuring new CEO John Ternus.

Warren Buffett's Berkshire Hathaway holds about 50% of its disclosed US stock portfolio in just three companies: Apple, American Express, and Coca-Cola. These consumer-focused giants have strong brand power, consistent cash flow, and long-term holding potential.