Chick-fil-A's growth plans, AI wearables, Gen Z's sports betting and more in Morning Squawk

1. Fueling concern

Oil storage tanks in Tuapse, Russia, March 22, 2020. The G7 price cap on Russian oil shipments is cutting the revenue that Moscow has available to support its invasion of Ukraine, and the mechanism's effectiveness is helped by the recent actions of Indian refiners, U.S. officials will say in New Delhi on Thursday, according to prepared remarks.

Bloomberg | Bloomberg | Getty Images

More oil tankers in the Middle East were hit in recent days as Iran refuses to budge on its conditions for reopening the Strait of Hormuz. Attacks on ships in the passageway, which have been occurring for weeks, have given investors reason to doubt that the global oil trade could recover in the near future.

Here's what to know:

• The UK's Maritime Trade Operations Centre said that at least two vessels were struck by unknown projectiles in waters near Oman and Iran, one on Friday and one on Sunday.
• As the Iran war and Ukrainian attacks on Russian refineries cause a fuel supply crisis, the Group of Seven countries agreed on Friday to a "substantial" release of diesel stocks in a bid to curb rising fuel costs.
• Meanwhile, OPEC+ agreed yesterday that its oil production targets would remain unchanged for November.
• Oil prices fell on Friday to post a negative week following the G7's announcement. Brent and U.S. crude prices are little changed this morning, with the former remaining above $100 a barrel.
• Despite oil's pullback and Friday stock rally, the Dow Jones Industrial Average and S&P 500 still ended last week in the red.
• Follow live market updates here.

2. Out of style

Smart glasses from Oakley Meta and Ray-Ban Meta are sitting on a table in an eyewear store.

Christoph Schmidt | Picture Alliance | Getty Images

Major technology companies have bet on artificial intelligence-powered wearables such as glasses and rings to make their mark on the consumer hardware space. But for some users, the tech has fallen out of fashion.

3. Family business

Marcin Golba | Nurphoto | Getty Images