Pump jacks at the Belridge Oil Field and hydraulic fracking site which is the fourth largest oil field in California.
Citizens of the Planet | Universal Images Group | Getty Images
Oil prices jumped Monday, snapping a seven-day losing streak that was crude’s worst since 2019, as the dollar pulled back and traders bet the recent selling was overdone.
“News of zero new cases in China has certainly provided a tailwind as it gives added light at the end of the Covid tunnel and a breath of fresh air to the demand landscape,” noted analysts at Blue Line Futures. “Additionally, the U.S. Dollar has retreated from recent highs, underpinning the commodity landscape broadly.”
West Texas Intermediate crude futures, the U.S. oil benchmark, last traded $3.22, or 5.2%, higher at $65.35. Earlier in the day it rose more than 6% to hit a session high of $66, at which point it was on track for its best day since November.
The sharp jump marks a turnaround from last week when the contract sank nearly 9% for its worst weekly performance since October and second negative week in three. WTI ended Friday at its lowest level since May 20.
International benchmark Brent crude advanced 5%, or $3.20, to $68.38 per barrel on Monday, after posting its worst week since October.
Oil’s tumble came amid fears of a demand slowdown as the delta variant of Covid-19 spreads, leading to new lockdowns in countries including Japan and New Zealand. Additionally, weak economic data out of China, which is the world’s largest crude importer, weighed on prices. The latest U.S. inventory report also showed a rise in gasoline stocks as well as an uptick in output from U.S. producers.
But some Wall Street firms said the selling looked overdone.
“We find this price weakness excessive and believe it has more to do with the psychology of market participants than with any deterioration of fundamental data,” noted analysts at Commerzbank.
Goldman Sachs, meanwhile, said that macro headwinds including the reflation unwind and Covid concerns in China are veiling the bullish backdrop for oil and commodities more generally.
“While liquidity will likely remain low and the trend is not our friend right now, we believe the micro — steadily tightening commodity fundamentals — will trump these macro trends as we move toward autumn, pushing many markets like oil and base metals to new highs for this cycle,” the firm wrote Monday in a note to clients.
Energy stocks jumped on the heels of oil’s rise, and the group was the top-performing S&P 500 sector, gaining more than 3%. Diamondback Energy and Occidental were among the top performers, rising more than 6%. APA gained more than 5%.
The energy sector fell more than 7% last week and has yet to reclaim its spot as the top-performing group this year. Energy was the best sector for the first half of the year but has been hit hard in recent weeks and is now the fourth-best sector for 2021, trailing financials, real estate and communication services.
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In the Electrek Podcast, we discuss the most popular news in the world of sustainable transport and energy. In this week’s episode, we discuss Tesla allowing texting and driving on FSD v14, Trump killing CAFE’s MPG standard, an Aptera update, and more.
As a reminder, we’ll have an accompanying post, like this one, on the site with an embedded link to the live stream. Head to the YouTube channel to get your questions and comments in.
After the show ends at around 5 p.m. ET, the video will be archived on YouTube and the audio on all your favorite podcast apps:
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Here are a few of the articles that we will discuss during the podcast:
Here’s the live stream for today’s episode starting at 4:00 p.m. ET (or the video after 5 p.m. ET:
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Kia’s most affordable electric SUV will be here in just over a month. Ahead of its debut, the EV2 was spotted with light camo, offering our best look yet.
Kia EV2 looks more like an SUV with less camo
Just days after Kia confirmed the EV2 will debut at the Brussels Motor Show on January 9, 2026, the small electric SUV was spotted in Europe with barely any camo.
The EV2 is a fully electric B-segment SUV set to be Kia’s new entry-level EV. It will sit below the EV3, which is already the UK’s most popular retail electric vehicle and among the top-sellers in Europe.
“With the EV2, we reaffirm our commitment to make electric mobility truly accessible to a broader audience,” Kia Europe president and CEO, Marc Hedrich, said earlier this month.
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Despite its compact size, the EV2 looks and feels much bigger in person. It has a similar high-riding, blocky design as Kia’s latest electric SUVs, such as the EV5 and three-row EV9.
Kia EV2 teaser (Source: Kia)
In the teaser images Kia posted a few days ago, the EV2 was shown under a drape with a design that looked nearly identical to the EV2 Concept from earlier this year.
Now, we can finally confirm it. The Kia EV2 was recently spotted in Europe in light camo, rocking a tall, SUV-like stance. The latest image from KindelAuto gives us a solid look at its profile, which still resembles a mini EV5 or EV9.
Kia will begin EV2 production alongside the EV4 hatch at its Zilina, Slovakia, plant shortly after its debut at the Brussels Motor Show next month, ramping up output throughout 2026.
Although Kia has yet to reveal specifics, the EV2 is expected to be about 4,000 mm (157″) long, or slightly smaller than the EV3 at 4,300 mm (169.3″). It will be closer in size to the Hyundai Inster EV.
The Kia Concept EV2 at IAA Mobility 2025 in Munich (Source: Kia)
Prices are expected to start at around €30,000 ($35,000) in Europe, given that the EV3 starts at about €36,000 ($42,000).
The compact electric SUV is expected to ride on Hyundai’s E-GMP platform, with similar battery pack options as the EV3. The EV3 is available with 58.3 kWh and 81.4 kWh battery options, delivering a WLTP range of 410 km (255 miles) and 560 km (348 miles), respectively.
The EV2 will debut at the Brussels Motor Show on January 9, 2026. Kia will hold a press conference at 10:40 am CET to introduce the new entry-level EV. Check back for updates leading up to the event.
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Cross Segway e-scooters and e-bikes off gift lists with hundreds of savings for Christmas Holiday Sale – models start from $150
It didn’t take much time at all for Segway to change lanes from its Black Friday event into the now live Christmas Holiday Sale that saves you hundreds on the brand’s EVs, including the returning pricing on the ZT3 Pro All-Terrain Electric Scooter at $849.99 shipped, which matches the pricing over at Amazon. While it may carry a $1,300 MSRP from Segway, you’ll more often find it down around $1,000 instead, especially at other marketplaces like Amazon, with this same low rate having previously appeared during July and October’s Prime Day events, as well as the most recent Black Friday sale. Now, you’re getting a longer period of getting it at this all-time low price, complete with $150 off the going rate (and $450 off the MSRP). Head below to learn more about it and the other models included in the Segway’s Christmas Holiday Sale.
Segway’s ZT3 Pro electric scooter is a solid all-terrain option that can certainly go the distance, as many riders are learning while riding around on them through the streets of NYC, with the full suspension and additional 6 inches of deck clearance from the ground serving urban riders well on more pothole-lined streets. What’s more, in a city so massive and populated, having the included Apple Find My and auto-proximity locking/unlocking functionality definitely adds peace of mind should you ever be leaving it unattended for a set amount of time.
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The whole system – which includes a 1,600W brushless motor as its heart – comes powered by a 597Wh battery, providing up to 43.5 miles of commuting assistance at speeds as high as 24.9 MPH. Another nice feature is the regaining of 6.2 miles for just 30 minutes of charging, allowing you to get moving faster to tackle last-minute plans. Along with everything already mentioned, there’s also 11-inch tubeless tires, a Segride stability enhancement system, a traction control system, six inches of extra clearance from the ground, and more.
Segway’s Christmas Holiday Sale gifts ‘made to wow’
Segway’s commuting Christmas Holiday Sale gifts under $750
EcoFlow Cyber Week flash sale cuts up to 63% off expanded DELTA 2 Max bundle + batteries at new lows from $329 (ends tonight)
As part of EcoFlow’s ongoing Cyber Week Sale, the first of this new extended event’s flash sales has officially launched with up to 63% savings on three expansion battery bundles and alongside the DELTA 2 Max Portable Power Station bundled with a smart extra (expansion) battery for $1,369 shipped. This flash deal lasting through tomorrow night (Friday, December 5) beats out its Amazon pricing by $130 and its direct Cyber Week pricing by $230 (which does offer a $99 waterproof bag for FREE). While this bundle carries a $3,298 MSRP direct from the brand, you’re more likely to find it down around $2,149 at full price elsewhere, with it having kept between $1,699 and $1,499 since late September, with all the sales. Discounts have previously gone as low as $1,424, but these flash savings are cutting a larger than ever $780 off the going rate (and $1,929 off the MSRP) and landing it at a new all-time low price.
Extended Ride1Up Cyber Monday sale continues up to $600 savings on e-bikes and extra batteries from $195
Ride1Up has an ongoing Cyber Monday Sale with up to $600 savings on e-bikes and extra batteries, which doesn’t provide any end dates, but is likely following the trend we’ve seen from several other brands and continuing through the weekend. Among the bunch, one model that is getting more and more attention from riders is the Revv1 DRT Off-Road e-bike that is down at $2,295 shipped. Normally running at $2,595 without discounts, we mostly saw sales bring the cost down to $2,495 or $2,395 over 2025, with more recent events seeing returns to the $2,295 low. That low price circled back around the track for Black Friday and Cyber Monday, with it holding strong for an unknown time longer at the best price tracked, courtesy of the $300 markdown.
The savings this week are also continuing to a collection of other markdowns. To the same tune as the offers above, these all help you take a more energy-conscious approach to your routine. Winter means you can lock in even better off-season price cuts on electric tools for the lawn while saving on EVs and tons of other gear.
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