It's Jim Kramer here. You're listening to the opening bell of CNBC Squawk on the Street.

Don't miss a minute of the action.

Good Wednesday morning. Welcome to Squawk on the Street. I'm Carl Kintanier with Jim Kramer,

who's back at Post 9, David Faber here at the New York Stock Exchange.

Oil spiking here on reports that in that gas field was attacked in southwestern Iran this morning. New fears that upstream infrastructure may increasingly be in military crosshairs. Futures as a result lost their gains. Hot PPI didn't help. Up nearly 4% now on annual core. That's the biggest jump in a year.

Our roadmap begins with Decision Day for the Fed. The policymakers statement's going to be in

focus, what it might say about inflation in the wake of the war. Also ahead in Vidi's CEO,

Jensen Wong, tells Jim that the AI agent OpenClaw is, quote, definitely the next chat GPT. And speaking of AI, the Trump administration,

responding to Anthropics lawsuit, this in a court filing, it defends the Pentagon's decision

to essentially what we call blacklist the company. Let's begin with the markets, though,

as the street awaits the Fed decision today and the statement

this afternoon.

Jim, although the more immediate story is this upside reversal in Brent back to 108.

And a lot of firms not rule a city, not ruling out $200 Brent.

Well, one of the things we thought was when Israel struck an oil facility, that was really the moment

where a lot of people said, okay, this is out of bounds.

And we heard Sundervuchi, it is out of bounds, and that it wouldn't happen again.

And now it's back, this time natural gas.

It does seem like the president is more emboldened.

Israel seems more emboldened because this is bad for the

market. But obviously, David, the bad for the market means absolutely nothing. What do you mean by saying that?

They're not looking at the stock market. Who? When they're buying. Well, the U.S. bomb

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