What’s a flex these days? There’s something inherently human about wanting nice things, right? Luxury feels good. But what is luxury and status, really? And it’s clear that social media has exacerbated the performative nature of status in our society.

As Psychology Today points out, tribalism used to depend on family, but it’s increasingly come to depend on wealth and status, with new elite groupings developing every day—now they’re called “lifestyles”. They say the “economic stratification of America isn’t dissimilar to the caste system of India, the main distinction being that Americans believe they have the opportunity to gain more and more status if they put their shoulders to the grindstones and employ good ol’ fashioned industriousness.”

Is that why we want to signal that we’re doing well? That having an Erehown smoothie in our hand (or rather on our grid) shows the world that we’re successful, and therefore, happy?

“Groceries are now a major status signifier,” one consumer analyst tells Highsnobiety. The publication’s new Status Economy white paper found new flexes; from a beaten-up Rimowa suitcase and a selfie at hot restaurant to a bathroom shelf lined with premium grooming goods and a fridge stocked with adaptogen sodas.

But those are the little luxuries that we can afford—or, at least, put on credit. What are the really rich splurging on these days? Fortune reports that the wealthy 1% are turning to new status symbols that can’t be easily bought or even seen. And it’s starting to hurt fashion houses that rely on those big Black Amex shopping sprees. Instead, the uber-rich are dolling out cash for experiences and travel.

Well, this was to be expected. The price of oil soared more than 10% on Thursday as the International Energy Agency warned the U.S.-Israeli war on Iran was “creating the largest supply disruption in the history of the global oil market.” The price of international Brent crude oil rose 9%, to more than $100 per barrel, while U.S. crude oil climbed above $96.

Americans, of course, are growing increasingly concerned with rising prices at the gas pump, and about half are blaming President Donald Trump, per flash polling conducted Wednesday night by Morning Consult and shared with Axios. Around 74% of Americans say they’ve noticed gas prices increasing this year and it’s fast becoming a political liability for the White House. Perhaps that’s why Trump is trying to spin this into a positive. He argued on social media that “When oil prices go up, we make a lot of money.” I’m not sure that’s making anyone feel better.

Still, the administration is aiming to boost global supplies by allowing countries to purchase sanctioned Russian crude already at sea. The decision was a significant turning point in America’s effort to punish Russia for its war in Ukraine. Treasury Secretary Scott Bessent also said the U.S. is planning for the Navy to escort commercial vessels through the Strait of Hormuz when conditions allow. Iran’s new supreme leader said his country would keep the vital oil route closed.

Are you excited for the Academy Awards? Statue Season is finally coming to a close with the 98th Academy Awards ceremony Sunday night (airing on ABC and streaming on Hulu) at the Dolby Theatre in Hollywood. The final ballots have been turned in, and it’s time to find out who’s going to win those little gold guys.

And, man, these races are coming down to the wire. Three out of four acting categories are practically toss-ups. Best Picture and Best Director don’t feel as settled as they should. Best International Feature is up in the air. From cat and opera disparagement to surprise precursor wins, the homestretch of Oscar season has been as exciting as they come—and that’s made this year’s ceremony particularly difficult to predict.

The Academy Awards might not be the typical betting event of the year, but it’s one that presents an intriguing challenge to bettors while celebrating a historic art form. As opposed to traditional online sportsbooks that are permitted to offer Academy Awards betting only in the U.S., prediction markets have a wider reach, offering Oscars betting in any state where it’s allowed.

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