U.S. crude prices continued to fall Wednesday, settling below $70 per barrel for the first time since early July and at their lowest levels since June. That’s good news for the Federal Reserve in its battle against inflation. While the impact on oil and natural gas stocks has not been as cheery, companies across many other industries stand to gain. At session lows, West Texas Intermediate crude dropped more than 4% Wednesday afternoon to just over $69 a barrel. The U.S. oil benchmark has been drifting lower since late September when WTI settled at its highest levels of the year — at nearly $94 per barrel. Energy , meanwhile, has been the only sector in the S & P 500 in the red since the fourth quarter began Oct. 1 — down about 10.7% compared with the broad market index’s 6% advance. Our only remaining oil and nat gas holding, Coterra Energy (CTRA), has also struggled — losing more than 8% quarter to date, including Wednesday’s more than 2% drop. However, more than two-thirds of our stock portfolio has been higher so far in the fourth quarter. “Oil is the key to this market. If it doesn’t hold $70, I don’t know where the thing goes,” Jim Cramer said earlier Wednesday. “But, boy, is it going the way of the Fed.” In its effort to cool inflation, the central bank has been tightening monetary policy since late 2021 and began aggressively raising interest rates in March 2022. Since then, the fed funds overnight bank lending rate has risen from near-zero to the current range between 5.25% and 5.5%. In early 2023, lower year-over-year oil prices helped slow the rate of consumer inflation, which reached its Covid-era peak at 9.1% in June 2022 . But, as oil climbed higher in the summer and into late September, concerns mounted that crude was once again becoming a thorn in the Fed’s side. With recent data pointing to cooling inflation, including falling energy prices, the market is trying to decide if the Fed’s rate-hiking cycle is done. The odds favor a rate cut as early as the Fed’s policy meeting in March, according to the CME FedWatch tool . @CL.1 YTD mountain The year-to-date performance of West Texas Intermediate crude futures. Oil impacts inflation data in more than just the gasoline prices paid by consumers at the pump. It also figures into corporate transportation and freight costs. If those input costs stay consistently higher, companies may choose to raise prices on the goods they’re making and shipping to protect profit margins. That will eventually show up in inflation readings — and, in theory, require the Fed to keep making policy decisions designed to slow the U.S. economy. The other side of the coin is that lower oil prices can be a boon to both consumers and companies, including those in Jim’s Charitable Trust, the portfolio we use for the Club. The less money people need to spend to fill up their gas tanks, the more cash they have available to spend on other goods and services — a positive for the economy. Similarly, lower fuel costs can help cushion companies’ profit margins — a positive for their investors and the stock market, more broadly. To be sure, falling crude prices can be worrisome if the decline is tied to a dramatic slowdown in economic activity. In a recession, demand would weaken for not just oil, but many other products sold by companies, too. The current picture on this point is not exactly black and white. For starters, oil production in the U.S. has been hovering around record levels , leading to a robust supply landscape even after oil cartel OPEC+’s latest production-reduction effort in an attempt to shore up prices. There are some fears about demand in China, the world’s second-largest economy. Economic activity in the U.S. also is slowing, but so far not in a manner that is troubling or suggests a severe recession is around the corner. To date, consumer spending and employment data have remained relatively resilient, while inflation is gradually cooling and oil prices are retreating. It’s possible upcoming economic reports could begin to scramble this picture — starting with Friday’s November jobs report — and eventually prompt us to read the oil market differently. At this point, the weakness in crude prices is a win for the Fed and large swaths of the Club’s portfolio, particularly a company like Amazon (AMZN) that benefits when consumers have more money to spend on its online marketplace and when its costs to deliver those products come down. It’s also led investors to sell Coterra Energy’s stock. Lower oil prices will hinder Coterra’s free cash flow , which the company returns to shareholders through stock buybacks and dividend payouts. Those are key reasons investors, including us, own the stock. We’re hardly panicking, though. In fact, we used Wednesday’s declines to add to our position in Coterra , which now holds a roughly 2% weighting in our portfolio. The fact that Coterra has fallen out of favor is precisely why we want to buy. Coterra, which has significant oil and natural gas exposure, can make plenty of money at current commodity prices. Plus, the company has done a commendable job managing its expenses this year — and encouragingly, expects to see service cost deflation in 2024. In other words, Coterra is controlling what it can. The price of oil is not one of those things. (Jim Cramer’s Charitable Trust is long CTRA and AMZN. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
An oil rig in front of a sunset
Andrey Rudakov | Bloomberg | Getty Images
U.S. crude prices continued to fall Wednesday, settling below $70 per barrel for the first time since early July and at their lowest levels since June. That’s good news for the Federal Reserve in its battle against inflation. While the impact on oil and natural gas stocks has not been as cheery, companies across many other industries stand to gain.
Polestar’s electric SUV set a new Guinness World Record after travelling over 580 miles (935 km) on a single charge. The trip took nearly 23 hours, but the Polestar 3 now claims the world record for the longest journey travelled by an electric SUV.
The Polestar 3 sets a new Guinness World Record
The record was set by an unmodified Polestar 3 Long Range Single motor model. Polestar launched the new variant in Europe last summer, followed by the US and other global markets in late 2024.
Powered by the same 111 kWh battery as the Dual Motor Polestar 3, the entry-level version features a single 295 hp (220 kW) rear-mounted motor. It’s also the most efficient model, rated with a WLTP range of 706 km (435 miles).
However, after a record-breaking trip this week, the Polestar 3 proved it’s much more efficient than the numbers show.
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The Polestar 3 drove 935.44 km (581.3 miles) on public roads in the UK, setting a new Guinness World Record for the longest journey traveled by an electric SUV and smashing its range estimates by almost 230 km (143 miles).
The Polestar 3 sets a new Guinness World Record (Source: Polestar)
According to Polestar, the electric SUV reached its WLTP range figure and still had 20% battery capacity, which allowed it to travel an additional 12.8 km (8 miles) before reaching 0%. And it did make it to a charger, in case you were wondering.
“While the drivers pushed the Polestar 3 to the boundaries of its range capability, it goes to show how battery range has improved exponentially over the past few years,” Polestar’s UK Managing Director, Matt Galvin, said.
Galvin added that “For a large premium SUV to go way beyond a London to Edinburgh distance is truly impressive and with this the adage that ‘EVs can’t go far’ has been very much consigned to the history books.”
The trip took 22 hours and 57 minutes, but the electric SUV delivered an impressive performance. Professional efficiency drivers, Sam Clarke, Kevin Booker, and Richard Parker, took turns driving every three hours.
The unmodified Polestar 3 was fitted with standard 20″ wheels and Michelin Sport 4 EV tires. Guinness World Record judge, Paulina Sapinska, verified the attempt. You can watch it in the video above.
Electrek’s Take
With an efficiency of 12.1 kWh/100 km (19.5 kWh/100 miles), or 5.13 miles/kWh, the Polestar 3 proved to be even more efficient than the Lucid Air Pure.
Lucid introduced the 2025 Air Pure last summer as the “World’s most efficient car” with an EPA estimated 5.0 miles/ kWh.
Last month, the Lucid Air Grand Touring model set a new Guinness World Record for the longest journey by any electric car on a single charge after driving 1,205 km (749 miles) through the Alps and into Germany.
And last week, GM announced the 2025 Chevy Silverado EV Work Truck set a world record after it drove 1059.2 miles on a single charge.
With most automakers and many other companies chasing more efficient batteries with new chemistries, this could be just the start.
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Forget fiddling with derailleurs and gear levers mid-commute. Instead, Bafang wants to make urban e‑biking smoother than ever with its all-new H730 hub motor, featuring its patented GVT (Gear Variable Transmission) technology. The idea is to combine the advantages of internally geared hubs with Bafang’s own hub motors to create an internally geared hub motor.
We covered Bafang’s GVT technology after seeing it first-hand on a tour of the company’s headquarters in China. Now we’re getting a look at a new 3-speed version, which takes the original 2-speed concept even further.
Launched this summer, this new hub motor packs a 3‑speed automatic gearbox that shifts gears seamlessly based solely on riding speed – no rider input needed.
The benefits are immediate: durability, simplicity, and less maintenance. Without derailleurs, cables, or external shifters cluttering the setup, the H730 boasts a clean, minimalist rear-end design, not to mention the benefits of weatherproofing the transmission to handle rain, mud, and debris.
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The 250W motor includes a torque sensor and smart controller to analyze riders’ pedal input in real time, suppressing pedal lag while delivering smooth acceleration up to 25 km/h (15.5 mph). It’s an ideal match for daily commuting, where energy efficiency and responsiveness matter. The speed limit fits European-regulation bikes, but it would make sense to see Bafang introduce a slightly faster 20 mph (32 km/h) version for the North American market.
That’s even more likely considering Bafang seems to be targeting broad compatibility, with the company highlighting how the H730 plays well with belt-drive systems and minimalist e‑bike frames.
The GVT system itself is the culmination of nearly two decades of innovation, Bafang explained. Since its introduction with the H700 motor in 2022, over 40 global e‑bike brands, covering everything from urban commuters to fat‑tire and cargo e-bikes, have adopted GVT-powered solutions.
Bafang seems to be positioning the GVT as the foundation of a platform, with the company seeing the H730 as a springboard for integration into shared‑bike fleets, folding bicycles, and e‑bike systems built to last. That’s a compelling narrative for urban mobility: fewer moving parts, smarter automation, and a ride experience tuned for simplicity and longevity.
Electrek’s Take
I love this solution because we’ve normally had to choose between an internally geared hub OR a hub motor, but not both. Getting an IGH normally meant shelling out for a more expensive mid-drive motor, but now it’s possible to get the benefits of both. An economical hub motor can keep prices more affordable, while the IGH means you don’t have the muss and fuss of a derailleur.
I wish the system also worked through the motor itself (i.e. could downshift the motor for more torque on hill climbs), but this is still great progress for the industry. And who knows, maybe Bafang has gear-shifting hub motors in development somewhere to give us the multi-ratio motors we want. Until then, this looks pretty cool.
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EV charging is everywhere now, and it’s reliable, accessible, and affordable. There thousands of public chargers are already out there – and, in some places, you’ll find more plugs than pumps. But if you don’t drive electric, you’d never know it. That’s because gas stations don’t just exist, they announce themselves with giant, illuminated signs that can be seen for miles, while EV chargers tend to just sort of sit, nestled away in the back of the parking lot.
That’s why the new EV Totem from Blink Charging is such a big deal. It doesn’t just charge your car, it stands tall, lights up, and tells the world: electric fuel is here, now.
If you were on a road trip, and your tank was low, how confident would you be in your ability to find gas if you were greeted by the sight of Breezewood, PA, above? We might shake our heads at late adopters of EVs, we might dismiss the things we don’t notice ourselves, but the fact remains that my father-in-law can drive some sea-to-shining-sea of this still (relatively) great country with no plan, no map, and no app, and feel pretty secure in his ability to find gas.
Can you honestly, before spirits of Henry, Lee, God, and the DSM-V, look at that picture and believe that your parents would have similar confidence in their ability to find charging?
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Now, imagine that all those thousands of EV chargers that you and I both know are out there. Imagine they were Blink EV Totems. Twenty feet tall, fully illuminated, and proudly proclaimed that here, weary traveler, was a place that you could – if you had an EV – simply pull up and plug in. Just like the gas stations out there have been proclaiming for nearly a hundred years.
Do you think they’d feel better slipping behind the wheel of an EV then?
No need to imagine
Co-developed by Blink Charging and Universal Media, the EV Totem concept combines Blink car chargers with elevated, 55″ screens to help maximize their eye-catching visibility. It’s a clever solution, and, while we’ve seen chargers with screens before, lifting the screens up above the cars in a parking lot makes them significantly more visible.
But because it’s 2025 and everything is terrible, instead of the EV Totem’s screens simply announcing the availability of reliable EV charging nearby or educating consumers about off-peak savings and duck curves, they’re designed to serve non-stop ads while collecting data that, “provides real-time insights for brands and property partners.”
“The EV Totem is designed to transform EV charging into a smarter, connected platform — one that delivers value for drivers while unlocking new opportunities for brands, property partners, and communities,” said Todd Cohen, Co-founder and CEO of Universal Media LLC, without even the slightest hint of remorse.
Blink’s EV Totem units are available now, with the first units already in service at Mountain View Village, a retail and lifestyle destination (read: strip mall) in SLC.
Electrek’s Jo’s Take
Electrify America gets it, via Electrify America.
Visibility matters, and electric charging stations are almost totally invisible in real life. What that means for most drivers is that, unless they’re in a Tesla or using a third-party app, they might have a tough time seeing public charging stations, even if they’re relatively close as the crow flies. Even if they’re plentiful.
The reality is that all those signs advertising gasoline create confidence on a subliminal level that gas, snacks, and restrooms are everywhere. Meanwhile, the EV charging signs (where they exist at all) are just too small, too bashful to be effective. EV charging is invisible to generations of ICE drivers, and we – as EV ambassadors – need to put ourselves in those drivers’ shoes, meet them where they are, and demand that the electric fuel industry do a better job of selling that same institutional kind of confidence.
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