Pipes transport refined product to storage tanks at the Buckeye Partners’ Laurel Pipeline terminal in Pittsburgh, Pennsylvania, U.S. May 1, 2017.
Jason Cohn | Reuters
Crude oil futures held firm on Thursday as fears of war between Israel and the Iran-backed militia Hezbollah overshadowed soft U.S. gasoline demand.
The U.S. on Wednesday reported surprise crude oil and gasoline inventory builds for the week ending June 21, disappointing bulls hoping that an uptick in demand would breathe life back into the recent crude rally.
Coastal flooding due to tropical storm Alberto hit U.S. gasoline demand, with consumption coming in below 9 million barrels per day for the first time in three weeks, according to JPMorgan.
“The hurricane left a noticeable mark on US gasoline consumption,” Prateek Kedia, vice president of global commodities research at JPMorgan, told clients in a research note Wednesday.
Here are today’s energy prices:
West Texas Intermediate August contract: $81.40 per barrel, up 50 cents, or 0.62%. Year to date, U.S. oil has gained 13.6%.
Brent August contract: $85.86 per barrel, up 61 cents, or 0.72%. Year to date, the global benchmark is ahead by 11.5%.
RBOB Gasoline July contract: $2.55 per gallon, up 0.003%. Year to date, gasoline has gained 21.2%.
Natural Gas August contract: $2.71 per thousand cubic feet, up 1.24%. Year to date, gas is ahead by 7.8%.
But oil still managed to close slightly higher Wednesday, as escalating tensions on the Israel-Lebanon border provided a price floor. There are renewed fears that an Israel offensive into Lebanon to push back Hezbollah from the border could spark a direct confrontation with OPEC member Iran.
“If it were not for the steady and incremental ratcheting up of geopolitical risk in the Middle East, oil prices might have found themselves on the back end of a much more negative day,” John Evans, analyst at oil broker PVM, told clients in a note Thursday.
Daniel Yergin, vice chairman of S&P Global, told CNBC’s “Squawk Box” on Wednesday that Middle East tensions are hanging over the market. He cautioned that oil could spike again, pointing to the April rally when prices broke above $90 per barrel when Israel and Iran teetered on the brink of war.
NIU is back at EICMA 2025 (the Milan Motorcycle Show) with a fresh lineup of electric two-wheelers that push the boundaries of performance, design, and smart connectivity. The Chinese electric mobility giant, already known for selling over 5 million electric scooters and motorcycles across over 50 countries, used the Milan show to unveil its 2026 product range – and it’s clear NIU is looking to hang on to that leader status.
For those unfamiliar, NIU launched its first electric scooter way back in 2015 and quickly rose to prominence with sleek, connected vehicles that combined urban practicality with stylish design. There are a lot of electric scooters out there now, but NIU has consistently been known for high-tech and slick-looking models.
Now, a decade later, NIU’s lineup has matured into a globally recognized suite of smart mopeds, e-bikes, scooters, and electric motorcycles. And at this year’s EICMA, the company made it clear that it’s ready to dominate even more niches.
A smarter NQiX Series
The NQiX Series has already gained traction in Europe’s L1e and L3e vehicle categories, but for 2026, it’s getting even better. All models in the series will be updated with improved motor and battery efficiency for longer range and better consistency. Most notably, NIU is adding onboard navigation powered by Google Maps – a major step toward true “smart” scooters.
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The biggest news, though, is the introduction of the NQiX 1000. Packing 15.5 kW of peak power and topping out at 125 km/h (78 mph), this model is aimed at commuters who want speed, range, and flexibility. With three removable 72V 28Ah batteries and over 100 km of range, it looks set to be a practical yet powerful urban workhorse. The NQiX 1000 will launch in Q3 2026 with a starting price of €6,499.
My first NIU scooter ever was an NQiGT that I got back in 2020, and it helped me fall in love with the brand. The NQiX series has extended what made the original so impressive, and the NQiX 1000 will push that model line into brand new territory, both for technology and for performance.
FQiX brings a fresh face to urban riding
NIU also introduced a completely new design platform called the FQiX Series, targeted at city dwellers who want tech-forward transportation with a bit of flair. Think sleek body lines, distinctive lighting, and a minimalist aesthetic – paired with smart features like a 5-inch TFT display, rear radar, and Bluetooth/NFC/keyless unlocking.
The FQiX 150 (L1e) and FQiX 300 (L3e) offer two tiers of performance but share the same connected tech ecosystem, powered by NIU’s new “Link Crown” interface. These will also arrive by Q3 2026, starting at just €2,399 – making them a compelling choice for first-time e-scooter riders.
This one definitely feels like NIU’s targetted attempt to bring on younger, more budget conscious riders while still giving them access to the technology that separates the brands’ scooters from much of the competition.
XQi goes off-road (and on-road, too)
NIU has been teasing off-road ambitions for years, but the new XQi 300, XQi 400, and XQi 500 take those ambitions up several notches. They follow on the heels of the successful launch of the NIU XQi3, which, for a lack of a better way to describe it, is NIU’s Sur Ron competitor. I had the chance to test it out recently on a trip to tour NIU’s factory. But unlike Sur Rons, Talarias, and most other light electric dirt bikes in this category, NIU made the XQi3 street-legal from the start, meaning riders could register it like a motorcycle and also ride on trails.
Now the XQi3 has been revamped into the XQi 300, keeping much of what made it a success untouched, but adding highly requested features like on-board charging so the battery doesn’t need to be unplugged to recharge. The XQi 400 and XQi 500 add even more power and performance, competing more with the Sur Ron Storm Bee. The XQi 500 Street, in particular, is likely to prove quite popular as a street-legal electric dirt bike with a massive 28.8 kW peak output and a top speed of 110 km/h (68 mph), all in a fairly lightweight 92 kg (203 lb) chassis.
Concept 06 maxi-scooter
NIU also showed off a concept for a potentially upcoming maxi-scooter, and it sounds like they actually want to produce it. This likely isn’t just a crazy concept that will never see the road, but rather a roadmap to what could be NIU’s biggest scooter yet.
The company is projecting impressive performance, including a 20 kW motor, speeds of up to 155 km/h (96 MPH), plus fancy features like a tray table so you can get some laptop work done while you’re charging up.
Electrek’s Take
NIU continues to impress me with its mix of smart tech, eye-catching design, and impressive performance. The addition of Google Maps integration and radar safety features is a clear step forward that I’m excited to see implemented. And with models like the XQi 1000, NIU is branching into serious performance territory. And the new off-road bikes (with street-legal status to ride on the road too!) take what was already a great design and make it even more powerful – and convenient to use.
While some of the subscription models might turn off some users, the base functionality of these vehicles seems generous enough to keep most people happy. And all of that tech on top is what helps separate NIU. If the pricing holds and the specs deliver, I think NIU’s 2026 lineup could shake up both urban and off-road electric mobility in a big way.
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Tesla’s head of the Cybertruck program, Siddhant Awasthi, announced that he is leaving after more than 8 years at the company.
Awasthi is a good example of Tesla’s transition into fostering inside leadership rather than outside hiring.
For better or worse, over the last 5 years, Tesla has virtually had no significant outside hires into high-level leadership roles. It almost exclusively promotes from within.
Awasthi worked on a hyperloop school program, interned at Tesla, and joined the company straight out of school in 2018. Within 2 years, he became an engineering manager. Within 3 years, he was a senior technical program manager in charge of the Cybertruck’s 48-volt architecture.
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To say that this is unusual at a major company would be an understatement.
By late 2022, ahead of Tesla’s planned start of Cybertruck production, he was made head of the electric truck program.
He was in charge of the production ramp and future improvements to the electric pickup truck, which has since become a commercial flop. Tesla is having trouble selling 25,000 Cybertrucks per year, despite planning for an annual production capacity of 250,000 trucks.
Today, the young engineer announced on X:
I recently made one of the hardest decisions of my life to leave Tesla after an incredible run.
He tried to “sum up” his career at Tesla in a paragraph:
It’s tough to sum up eight years in just a few lines, but what a thrilling journey it’s been: ramping up Model 3, working on Giga Shanghai, developing new electronics and wireless architectures, and delivering the once-in-a-lifetime Cybertruck—all before hitting 30. The icing on the cake was getting to dive back into Model 3 work toward the end.
In addition to his duties as Cybertruck program manager, Awasthi was also made in charge of the Model 3 program last summer.
While I’m using Awasthi as an example of Tesla prioritizing internal promotions rather than attracting outside talent, I’m not blaming the failures of the Cybertruck program on him. The blame should always be placed at the very top.
The program failed because someone at Tesla —likely Elon —was way too optimistic about what it could accomplish, and ultimately, what Tesla unveiled in 2019 had very little to do with what it brought to production in 2023.
It had less range, fewer cool features, and all for a way higher price.
But it’s also far from an endorsement of Tesla’s organizational approach, far from it.
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When it comes to battery longevity, it appears that brand matters. A recent study published by Germany’s ADAC revealed tangible, real-world differences in how the high-voltage batteries in PHEVs age across manufacturers. The results: Mercedes’ batteries came out on top, Mitsubishi trailed behind.
A recent study by the German motoring group ADAC (think of it as Germany’s equivalent of America’s AAA) and data analysts at Austrian battery firm AVILOO analyzed more than 28,500 state-of-health (SoH) measurements from plug-in hybrid electric vehicles (PHEVs) across six years and several vehicle brands. While the study found that battery degradation for most brands remains within a range consistent with an average vehicle lifespan, it turns out that one of the strongest predictors of battery longevity was the brand of vehicle tested.
In other words: not all hybrid batteries are created equal, and it seems like you really do seem to get what you pay for with batteries from traditionally pricer brands like Mercedes-Benz, BMW, and Volvo out-performing those from mainstream car brands like VW, Ford, and Mitsubishi. Here’s how ADAC broke it down:
In terms of brand comparison, Mercedes-Benz models generally show very stable battery performance up to a mileage of 200,000 kilometers. This contrasts with Mitsubishi, whose PHEVs already exhibit significant degradation even at low mileages, although this stabilizes somewhat over the course of their lifespan.
Battery degradation in vehicles from the Volkswagen Group and Volvo remains within an unremarkable range even with higher proportions of electric driving. BMW models show a noticeable variation across the entire field, depending on electric usage. In Ford models, battery capacity decreases remarkably early, regardless of the specific user group. However, predictions regarding battery condition at higher mileages are not possible due to the limited number of tests.
So, what are the big takeaways here, besides the notion that more expensive products tend to be built better than cheaper ones? It seems like most PHEVs are maintaining more than 80% of their batteries’ SoH after 200,000 km (~120,000 miles), with some of the higher-performing batteries doing significantly better.
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Still totally fine
2024 Mitsubishi Outlander PHEV; via Mitsubishi.
Again, the ADAC results shouldn’t be interpreted to mean that the Mitsubishi PHEV models aren’t perfectly serviceable, reliable offerings – just that some cars that cost a lot more than the Mitsubishi tend to have batteries that last a little longer under typical driving conditions.
ADAC also adds that, if frequent electric-only trips are on your agenda (as they are on mine), a fully battery-electric vehicle may be the smarter pick, as their batteries go through fewer charging cycles and tend to last longer than PHEV batteries as a consequence.
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