Oil prices held steady Tuesday after the International Monetary Fund raised its global growth forecast for the year and as the market waited to see how the U.S. will respond to a deadly drone attack on its forces in the Middle East
The West Texas Intermediate contract for March gained 39 cents, or 0.51%, to trade at $77.16 a barrel. The Brent contract for March rose 5 cents, 0.06%, to trade at $82.45.
The two benchmarks were down more than 1% earlier in the session after Hamas said it was studying a proposal to pause fighting in Gaza for the release of more hostages, in a sign that diplomacy to de-escalate the war might be gaining steam.
Oil prices declined more than 1% on Monday as China’s real estate crisis raised worries about demand in the world’s second-largest economy.
“The ramifications of a possible collapse in the China’s property sector makes moot any authority stimulus and will have very negative global shockwaves,” John Evans with the oil broker PVM wrote in a note.
Crude prices gained Tuesday after the International Monetary Fund on Tuesday raised its forecast for the global economy on unexpectedly strong growth in the U.S. and stimulus in China. The IMF forecast growth of 3.1% this year, an increase of 0.2 percentage points from its October projection.
Oil Prices Today
Traders are also monitoring how the U.S. will respond to a drone strike that killed three of its troops in Jordan Sunday. President Joe Biden held Iran-allied militants in Syria and Iraq responsible for the attack.
Biden said the U.S. would hold those “responsible to account at a time and in a manner our choosing.” Defense Secretary Lloyd Austin said the Biden administration “will take all necessary actions to defend the United States, our troops, and our interests.”
Yet National Security Council spokesperson John Kirby seemed to play down the possibility of a direct confrontation between Iran and the U.S.
“We’re not looking for a war with Iran,” Kirby told reporters at the White House Monday. “We’re not looking to escalate the tensions any more than they already have been escalating.”
Iran has denied any involvement in the attack.
Retired U.S. Navy Admiral James Stavridis, former NATO Supreme Allied Commander, said surgical strikes are not deterring Iran-allied militants. The Biden administration will likely launch a broader campaign that falls short of a full-blown war, Stavridis said.
“You’re going to see a week or two of heavy attacks, but not in Iran itself, against Iranian proxies,” Stavridis, global affairs vice chair at the Carlyle Group, told CNBC’s “Squawk Box” Tuesday.
“Probably Iraq, Syria and Yemen would be the three places you’re going to see the administration lean in over the next week or two,” Stavridis said.
The oil market’s response to geopolitical tensions in the Middle East has been muted, though analysts say a conflict between Washington and Tehran is a scenario that would likely send prices higher.
Stavridis said the death of three U.S. service members has raised the odds of a broader conflict, though he noted that neither Washington nor Tehran want a wider war.
White House energy security advisor Amos Hochstein said disruptions to shipping in the Red Sea due to attacks by Iran-allied Houthi militants are “entirely manageable.” An oil tanker was hit by a Houthi missile in the Gulf of Aden on Friday in the latest escalation.
“It’s just a matter of re-routing the cargos and the tankers but not really affecting oil prices or any of the other commodities and other cargo shipping,” Hochstein told “Squawk on the Street” Tuesday.
There has been a huge increase in crude supply from the U.S., Brazil and Guyana while global demand is largely holding steady, he said.
“At the end of the day, the fundamentals are that demand and supply are well balanced,” Hochstein said.
A wheel loader operator fills a truck with ore at the MP Materials rare earth mine in Mountain Pass, California, January 30, 2020.
Steve Marcus | Reuters
The Defense Department will become the largest shareholder in rare earth miner MP Materials after agreeing to buy $400 million of its preferred stock, the company said Thursday.
MP Materials owns the only operational rare earth mine in the U.S. at Mountain Pass, California. The company said it will use the proceeds of the Pentagon’s investment to expand its rare earths processing capabilities and its magnet production capacity.
Shares of MP Materials jumped more than 40% premarket on the news.
The Pentagon is buying a newly created class of preferred shares that are convertible into MP Materials’ common stock. It is also buying a warrant that allows it to purchase additional common stock in the rare earth miner. The convertible shares and the warrant for common stock would represent about a 15% stake in MP Materials as of July 9.
Interior Secretary Doug Burgum said in April that the Trump administration was considering making direct equity investments in critical mineral companies to break U.S. dependence on China.
This is a developing story. Please check back for updates.
Porsche is rolling out three new Taycan Black Edition models. The 2026 Porsche Taycan Black Edition brings more than just a sporty new look. All three are equipped with Porsche’s Performance Battery Plus, delivering more power and a longer driving range.
Meet the 2026 Porsche Taycan Black Edition
With the new electric Macan stealing the show, Porsche is introducing new Taycan variants for the 2026 model year.
Porsche has already introduced significant upgrades for the 2025 model year, adding more driving range, faster charging, higher performance, and a sleek new design.
The new Black Edition variants will be available for the 2026 Porsche Taycan, Taycan 4, and Taycan 4S models.
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Featuring its SportDesign package, the new models include high-gloss black exterior accents on the window trims and mirrors.
Other standard design elements include a rear light strip with an illuminated, blacked-out Porsche logo. Inside, the new variants include Porsche’s black interior accent package, storage package, and black brushed illuminated door sill guards.
2026 Porsche Taycan Black Edition (Source: Porsche)
All three Black Edition models are equipped with the larger Performance Battery Plus, which is typically offered as an option.
With a gross energy capacity of 105 kWh, Porsche says the new variants offer a longer driving range and more power. The 2025 Taycan, with the Performance Battery Plus pack, offers an EPA-estimated range of 318 miles.
On the European WLTP scale, the 2025 Porsche Taycan with the Performance Plus battery is rated with up to 679 km (421 miles) range.
2026 Porsche Taycan Black Edition (Source: Porsche)
The new Black Edition models are loaded with added features. Highlights include Lane Change Assist, Surround View, including Active Parking Assist, 21″ wheels with center caps featuring the full-color Porsche crest, and HD-Matrix Design LED headlights. There are even puddle light projectors that show the Porsche logo when the doors open.
2026 Porsche Taycan Black Edition interior (Source: Porsche)
On the inside, the premium features continue. The Black Edition interior features 14-way comfort seats with a memory function, a Porsche crest on the headrests, and a BOSE Surround Sound System, including Dolby Atmos, to create an immersive sound experience.
You’ll also get Porsche Electric Sport Sound, a Storage package, and the Porsche crest stitched into the leather trim. To top it off, there’s an added “Black Edition” badge in the center console, exclusive to the new variants.
Although it’s called the Black Edition, you can choose from several different colors, such as Jet Black Metallic, Volcano Grey Metallic, Dolomite Silver Metallic, and Ice Grey Metallic, at no extra cost.
Porsche will reveal prices for the 2026 Taycan Black Edition models “in due course.” Deliveries in the US are expected to begin in Fall 2025.
What do you think of the new blacked-out Taycan variants? Do you dig it? Drop us a comment below and let us know your thoughts.
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Aventon is giving its popular fat tire e-bike a serious upgrade. The company just unveiled the Aventure M, a new mid-drive version of its best-selling Aventure model. With more torque, smarter shifting, and a boost in connectivity and control, Aventon says this is the “most advanced” bike it has ever produced.
The new Aventure M swaps out the rear hub motor for a 100 Nm mid-drive motor, offering more efficient power delivery and a more natural ride feel thanks to its double-sided torque sensor. And in case that 100 Nm doesn’t exactly place it for you, just know that we’re talking about more power (or more accurately, torque) than nearly any other e-bike in this class.
The Aventon A100 motor, which is rated at 750W and runs on a 36V system, takes full advantage of its Class 3 category with pedal assist speeds up to 28 mph (45 km/h) and a throttle top speed of 20 mph (32 km/h). The throttle is sold separately, probably as a nod to being even more compliant with California’s new stricter laws regarding Class 1 and Class 3 e-bikes, which can’t have mounted throttles.
Aventon also gives riders the option to set the bike to Class 1 or 2 limits using the companion app. We’ve always been pretty impressed with Aventon’s app, as it’s quite easy to use and makes it simple to control those types of modifications to the bike.
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That app pairs with Aventon’s newly developed ACU (Aventon Control Unit), a custom IoT system that adds a wide range of smart features. Riders get GPS tracking, theft detection, geofencing, remote locking, and over-the-air (OTA) firmware updates. Aventon even built in a passcode-locked on-switch for added security, as well as a physical rear-wheel lock and alarm.
We’ve previously seen Aventon use that OTA update system to give its e-bike more power via a boost feature, so the company doesn’t appear shy about pushing out new features when they’re ready.
But it’s not just about motor placement and connectivity. The Aventure M introduces electronic shifting, powered by a 10-speed Shimano CUES drivetrain and paddle shifters. Riders can shift manually or let the system take over with Auto Shift, Aventon’s torque and cadence-sensing automatic shifting mode. A new Uphill Start Assist feature gives riders an extra torque boost when starting from a stop on steep grades –perfect for off-road adventures or fully loaded cargo rides.
As for range, Aventon claims up to 85 miles (137 km) from the removable 36V 20Ah (720 Wh) battery, which itself weighs around 8.7 lbs (3.9 kg). That figure is in the lowest power level, and real-world range will depend heavily on terrain and assist level, but riders can likely expect something in the 40–60 mile (65-100 km) ballpark under typical pedaling usage when enjoying moderately higher power levels, and a bit less if leaning hard into that optional throttle.
Rounding out the build are 4-inch wide fat tires, a suspension seatpost, and an 80 mm front suspension fork. The total weight of the bike is around 73 lbs (33 kg), which is actually surprisingly reasonable for a full-featured fat tire e-bike with a mid-drive, believe it or not. Hey, these are heavy bikes when you stuff all that power, range, and tech in there.
The price at launch is US $2,899, which places the Aventure M above the hub motor version of the company’s existing Aventure model but below some other mid-drive fat tire options on the market. Aventon is clearly positioning this as a higher-performance alternative that’s still (hopefully) accessible to the average rider. It’s available now online and through Aventon’s network of over 1,800 partner dealers across the U.S.
Electrek’s Take
It’s about time we saw a major direct-to-consumer brand bring a smart tech, mid-drive fat tire e-bike to market that doesn’t require taking out a second mortgage. The Aventure M feels like a natural progression for Aventon – taking what made the Aventure 2 so popular and layering on meaningful performance and tech upgrades. The mid-drive motor brings real climbing power and smoother pedal assist, and features like auto shifting and built-in GPS tracking give this bike some serious smart credentials.
Of course, at nearly $3,000, this isn’t exactly budget territory anymore. But considering the Aventure M includes high-end components, a full-fat-tire adventure build, and an impressive level of integration, it still looks like a solid value for someone who wants their e-bike to go above and beyond the basic level of componentry and features. If the real-world range holds up and the automatic shifting works smoothly, this could easily become a category leader for anyone wanting an all-terrain e-bike that feels as refined as it is rugged. Aventon of course didn’t reinvent the wheel here — they just made a smarter, better one. I look forward to getting on one soon for a review and letting you know what I think of the ride.
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