Oil prices top $100, FDA leadership change, the wellness boom and more in Morning Squawk

U.S. crude oil prices soared above $100 per barrel for the first time since 2022, driven by cuts from Iraq, Kuwait, and the UAE amid rising tensions with Iran. The Dow is down over 500 points in pre-market trading.

The spike in oil prices is raising concerns about affordability for Americans, with Democrats linking it to rising gas costs. The negative jobs report adds pressure on the White House as the U.S.-Iran conflict escalates.

As the wellness industry booms, venues like Bathhouse expect $120 million in revenue by 2026, catering to a growing demand for social spaces without alcohol. The global wellness market could reach $10 trillion by 2030.