Connect with us

Published

9 months ago

on

Oil demand growth is decelerating, strategist says

U.S. crude oil prices fell 2% on Tuesday, as slowing global demand overshadows tensions between Iran and Israel.

The market has shifted its focus back to fundamentals after the International Energy Agency and OPEC flagged softening consumption in China this week.

Here are Tuesday’s closing energy prices:

  • West Texas Intermediate September contract: $78.35 per barrel, down $1.71, or 2.14%. Year to date, U.S. crude oil has gained 9.3%.
  • Brent October contract: $80.69 per barrel, down $1.61, or 1.96%. Year to date, the global benchmark is ahead 4.7%.
  • RBOB Gasoline September contract: $2.37 per gallon, down more than 6 cents, or 2.79%. Year to date, gasoline is up 12.9%.
  • Natural Gas September contract: $2.15 per thousand cubic feet, down 4 cents, or 1.87%. Year to date, gas is lower by 14.5%.

World oil demand continues to slow as China’s post-pandemic rebound has run its course, according to the IEA. Global demand in the second quarter increased at its slowest pace, 710,000 barrels per day, since the end of 2022, according to the Paris-based agency.

OPEC on Monday lowered its demand growth forecast by 135,000 barrels per day this year citing softness in China. The IEA forecasts a crude oil surplus in 2025 even if OPEC keeps production cuts in place, due to output in Brazil, Canada, Guyana and the U.S.

OPEC 'sticking to their plan' to relax their voluntary cuts, expert says

U.S. crude rallied more than 4% in the previous session as Israel braced for an expected attack from Iran and the Pentagon accelerated the deployment of a carrier strike group to defend its ally.

“The oil market’s concern is that a broader conflict between Israel and Iran could cause oil supply disruptions in and around the Strait of Hormuz, through which about 20% of the world’s seaborne crude supply is shipped,” Henning Gloystein, head of energy at the Eurasia Group, wrote to clients in a note.

“These risks remain low-probability events, which helps explain the modest increase in prices,” Gloystein wrote.

The market is monitoring diplomatic efforts by the Biden administration to avert a wider war in the Middle East, said Helima Croft, head of global commodity strategy at RBC Capital Markets.

“Oil market participants and frankly gas market participants are having to weigh some of the economic data versus some of the supply risk data,” Croft told CNBC’s “The Exchange” Tuesday.

Rob Ginsberg, managing director at Wolfe Research, said U.S. crude has held a floor in the low $70s and now faces a stubborn resistance level of $84 per barrel.

But the U.S. benchmark could break out, Ginsberg told clients in a note. “Once out, mid to high $90s isn’t crazy,” he said.

Don’t miss these energy insights from CNBC PRO:

Related Topics:
Continue Reading

Environment

Velotric sale takes $400 off e-bikes with extra accessory savings, EcoFlow DELTA Pro Ultra flash bundle $2,072 off, EGO mower, more

Published

1 hour ago

on

May 1, 2025

By

Velotric sale takes 0 off e-bikes with extra accessory savings, EcoFlow DELTA Pro Ultra flash bundle ,072 off, EGO mower, more

Today’s Green Deals are being led by Velotric’s Mother’s Day Sale, which is offering up to $400 off e-bikes, along with some select 30% accessory discounts and free gear, like the Discover 1 Plus Commuter e-bike for $1,299 that you can also bundle with a bunch of add-on gear at $487 off, among others. There’s also EcoFlow’s latest flash sale through the rest of the day that is taking up to 43% off a DELTA Pro Ultra Solar Generator bundle and a dual-RAPID 5,000mAh Magnetic Power Bank bundle from $76. We also have two solid tool deals for you, with EGO’s 56V 21-inch Cordless Electric Self-Propelled Lawn Mower coming with dual-toggle handles and a 6.0Ah battery at $449, as well as CRAFTSMAN’s 1,900 and 2,100 PSI Electric Pressure Washers starting from $149. Plus, all the other hangover Green Deals are in the links at the bottom of the page, like yesterday’s Anker SOLIX F3800 Plus Mother’s Day savings, Jackery’s latest sale, and more.

Head below for other New Green Deals we’ve found today and, of course, Electrek’s best EV buying and leasing deals. Also, check out the new Electrek Tesla Shop for the best deals on Tesla accessories.

Velotric Mother’s Day Sale takes up to $400 off e-bikes with select free gear and accessory discounts from $999

Velotric has launched its Mother’s Day Sale with up to $400 being taken off its e-bike lineup while also offering select 30% off accessory discounts and free gear with certain models. Among the offers, one of the biggest discounts we’re seeing during this sale is on the popular Discover 1 Plus Commuter e-bike for $1,299 shipped. Having recently had its price raised to $1,699 due to tariffs, you’re looking at a $400 markdown here, with the option to bundle the e-bike with a rear rack, front basket, phone mount, and left-side mirror at $1,503 shipped. This is the third-lowest price we have seen this model go for, sitting $200 above the all-time low we last spotted during Black Friday.

Upgraded in 2024 to provide more comfort during commutes, the Velotric Discover 1 Plus e-bike is a popular means to get around with its 500W rear hub motor (peaking at 900W) and 691.2Wh battery delivering up to 65 miles of travel with the five PAS levels activated alongside 20 MPH speeds that can be ramped up to 28 MPH when unlocked. There is a throttle to enjoy cruising around on pure electric power, though at the cost of mileage.

Advertisement – scroll for more content

It doesn’t offer as fancy an array of features like its Discover 2 counterpart, like the Apple Find My integration, but does still provide some solid features for the price. It arrives sporting a Shimano 7-speed derailleur, an integrated 60 lux LED headlight, a taillight with braking functionality, double hydraulic disc brakes, larger 26-inch puncture-resistant tires, an increased IPX7 waterproof rating, fenders above both tires, and a 3.5-inch LCD display. The display even has a USB-A port to charge up your phone as you go on top of a walk assist mode to help you get up extreme inclines.

Velotric Mother’s Day Sale offers with free gear:

  • T1 ST Plus Lightweight e-bike: $1,399 (Reg. $1,649)
    • 28 MPH for up to 70 miles
    • comes with free rear cargo rack
  • Breeze 1 Cruiser e-bike (new model): $1,799 (No price cut)
    • 28 MPH for up to 70 miles
    • Comes with free front basket

Velotric’s other Mother’s Day Sale offers (30% off accessories):

You can browse the full lineup of Velotric’s Mother’s Day Sale on the landing page here.

EcoFLow DELTA Pro Ultra Portable Power Station

Through today, EcoFlow takes up to 43% off a DELTA Pro Ultra solar generator bundle or dual RAPID Qi2 power banks from $76

As part of its ongoing Spring-to-Summer Sale that will continue through May 7, EcoFlow is offering flash savings on two backup power packages for members (sign-up is free) through the rest of the day – one for your home and appliances, and one for your personal devices. The first is the brand’s DELTA Pro Ultra Solar Generator bundle that comes with four 125W panels and a trolley for $5,224.05 shipped, after using the sitewide promo code EFRVSALEAFF at checkout for an additional 5% off. Non-members can use the same code to score it at $190 more, with this package normally running you $7,296 in all. This is a first-time offer on this particular bundle, and what’s more, the sitewide extra savings are rarely valid on flash offers, making it all the sweeter a deal. You’ll be getting $2,072 struck from the price tag at the best price we can find.

EcoFlow’s most expansive backup power option, an especially strong choice for home coverage, the DELTA Pro Ultra starts at a 6.1kWh LiFePO4 capacity and 7,200W output that can be built up all the way to 90kWh capacity and 21.6kW output with additional equipment. For example, were you to have the fully expanded system, you’d be able to keep things running for up to 15 days, though that doesn’t account for any solar charging equipment you’ve connected, which extends that timeframe. Adding the brand’s Smart Home Panel 2 to the equation brings smart home integration into the mix, allowing your power usage to be analyzed, offsetting peak rates while also providing connections to any roof panels you have installed in order to lower energy costs.

Speaking of its solar charging capabilities, this modular station carries an expandable 5.6kW to 16.8kW solar input, as well as the usual AC wall outlet recharging, and the hook-ups for EV piles and generators. Investing in its full system to its absolute limit (three Ultra Pro stations + expansion batteries + max solar input) would provide you the power to run your home for a day after around an hour of the most ideal sunny conditions. Of course, it is also a handy portable option, with an IP54 dust-proof and splash-proof rating, and a design that can withstand severe temperatures from -4 degrees to 113 degrees. Whether you’re using it for year-round needs at home or taking it travelling to campsites, RV trips, and more – it’s quite the sizeable means to keep all your essentials running.

The second of these offers gives you two RAPID 5,000mAh Magnetic Power Banks for $75.99 shipped, after using the sitewide promo code EFRVSALEAFF at checkout for an additional 5% off. Of course, like the above deal, non-members will be paying $9.50 more with the code. These compact devices provide you with Qi2 15W wireless charging speeds or 30W speeds through the built-in USB-C cable or the additional USB-C port. They can recharge to 70% in about 33 minutes and even feature built-in kickstands to prop up as they charge your phone or other devices.

Be sure to check out the lineup of other deals we’re seeing as part of EcoFlow’s Spring-to-Summer Sale, which is taking up to 52% off through may 7 – all with the extra sitewide savings too. You’ll also find the launch deals for the brand’s new WAVE 3 AC/Heater and GLACIER electric coolers that start from $807, with a bunch of bundle options available for them.

EGO Power+ 56V 21-inch electric lawn mower

This EGO 56V 21-inch cordless self-propelled mower comes with a 6.0Ah battery and dual-toggle handles for $449

Amazon is offering the EGO Power+ 56V 21-inch Cordless Electric Self-Propelled Lawn Mower with 6.0Ah battery for $449 shipped. This particular model with the battery normally goes for $550, with March having seen it drop down to $499 and hold strong at that rate until today. Now, you can take advantage of the $101 markdown here to grab one for your lawn care needs at the second-lowest price we have tracked – just $25 above the low from early Christmas sales.

A great replacement for noisy, fume-belching gas-guzzlers, this 56V mower from EGO provides 50 minutes of run time with the included 6.0Ah ARC battery, which you can quickly change out with other batteries you may have for extended performance. The 21-inch deck houses a brushless motor for better efficiency, with a 7-position cutting height range from 1.25 to 4 inches, as well as 3-in-1 functionality for rear bagging, side discharging, and mulching. It starts up at the press of a button, so no more wrestling with pull strings – plus, its self-propelled system is easier to engage thanks to the dual-toggle handle set.

And if you want to stock up on batteries, you’ll find EGO’s 2.5Ah and 5.0Ah ARC models starting from $110 right now.

CRAFTSMAN 2,100 PSI Electric Pressure Washer

Grab the budget-friendly CRAFTSMAN 1,900 PSI or 2,100 PSI electric pressure washers for outdoor cleaning from $149

Amazon is giving folks a solid budget-friendly option for outdoor cleaning needs by offering the CRAFTSMAN 2,100 PSI Electric Pressure Washer for $189 shipped. A tried-and-true model that may be older but still gets the job done, we’ve been seeing this model keep at $219 at Amazon while going for a higher $239 MSRP elsewhere, not receiving any discounts here since the summer of last year. Today, we’re getting some respite from the monotony with a $30 markdown that drops costs to the lowest price we’ve seen in the last two years, sitting just $10 above its all-time lowest rate.

With spring in bloom, there will be plenty of gunk from pollen buildup and more that needs clearing away, and this CRAFTSMAN pressure washer is a popular means to do just that. It delivers a maximum 2,100 PSI of cleaning power for your outdoor spaces and furniture, with a 1.2 GPM flow rate. It sports an integrated soap tank that adds an additional level of cleaning when needed, along with onboard storage for the included nozzles, 25-foot kink-resistant hose, 35-foot power cord, and wand.

If you don’t need such a high PSI, you can save a little more by going with the CRAFTSMAN 1,900 PSI Electric Pressure Washer for $149 shipped. This slightly smaller model offers most of the same features and gear, just with a lesser 1,900 PSI power.

Best Spring EV deals!

Best new Green Deals landing this week

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.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

Waymo says its robotaxis are up to 25x safer for pedestrians and cyclists

Published

2 hours ago

on

May 1, 2025

By

Waymo says its robotaxis are up to 25x safer for pedestrians and cyclists

Waymo has released new research saying that its driverless robotaxis reduce pedestrian- and cyclist-involved collisions by 82%-92%, and crashes that involve an injury by 96%, when compared to the average driver.

Waymo has been operating its autonomous, driverless Level 4 robotaxis for several years now, and is continuing to (slowly) roll them out to more metro areas in the US. They’ve been operating in Phoenix since 2019 in some capacity, and entered San Francisco in 2022, Los Angeles in 2023, and Austin, Texas in 2024, plus they’ve just started testing in Atlanta, Georgia.

In that time, the company has racked up 56.7 million miles of operation, allowing it to have a big enough sample to start understanding how its driving capabilities compare to the overall vehicle fleet.

Today it released a research paper that it has published, suggesting that its vehicles are indeed quite a lot safer, especially when it comes to “vulnerable road users” like pedestrians, cyclists and motorcyclists.

Advertisement – scroll for more content

Waymo released a table showing the total number of incidents it had in each location, inclusive of not just crashes with vulnerable road users, but vehicle-to-vehicle crashes as well.

Location Any injury Airbag deployed Serious injury+
Phoenix 24 8 0
San Francisco 16 7 2
Los Angeles 8 2 0
Austin 0 1 0
All Locations 48 18 2

But in its press release it highlighted vulnerable road users specifically, showing that Waymo’s robotaxis had a 92% reduction in crashes involving an injury with pedestrians and an 82% reduction with both cyclists and motorcyclists. This increases to a 96% reduction in injuries in intersections, which are one of the most dangerous parts of the road, and 85% reduction in crashes with “suspected serious injuries” or worse.

Due to the high number of miles studied, results for some specific environments and types of crashes are statistically significant, but some of Waymo’s other results are not – because some of these types of crashes are extremely rare. So more research will come as more miles get racked up.

Along with its blog post, Waymo released a short video with some examples of avoided crashes with vulnerable road users:

Waymo’s results show a particularly stark difference given that pedestrian injuries are at a 40-year high in America. Until around 2012, the trendline for pedestrian injury and death was trending downwards, showing that roads and cars were getting safer for other road users.

But in the last 13 years, pedestrian deaths have shot up rapidly, owing both to distracted driving (cellphones, screens in cars) and much larger vehicles. The latter point is finally seeing some attention by the US government – or at least, it was, before this January rolled around (we’ll see if republicans continue on their quest to make literally everything worse).

Waymo’s research has been accepted for publication in the scientific journal Traffic Injury Prevention.

Electrek’s Take

We took a ride in a Waymo when the service first came to LA and you can read my long writeup of that here, including lots of video showing how the car performed in some pretty difficult road situations. I was quite impressed, but it still isn’t perfect.

But Waymo has put quite a premium on safety, which it can do because it’s funded by Google’s deep pockets. It has spent quite a bit of money on developing and attaching its sensor suite to its robotaxis, and the statistics seem to suggest that that expenditure has paid off.

Though it sort of already has paid off, as Waymo’s main driverless competitor, Cruise, ended operations in 2023 after a high-profile crash. Cruise’s vehicle was not at fault for the crash (a human driver caused it, hitting a pedestrian into the Cruise vehicle), but Cruise subsequently was found to have misled investigators, which was a big no-no.

Waymo’s sensor-heavy is different than the approach taken by another company that talks a lot about self-driving, Tesla. Tesla is using a camera-only system, whereas Waymo has several other sensors, like radar and LiDAR (you may have heard about the difference between these two in a recent controversial Mark Rober video, which everyone seems to have missed the point of).

There are some strengths and weaknesses of each approach, and time will tell which one works out the best. Tesla’s solution is more scalable and the company has far more road miles covered than Waymo does, but the quality of Tesla’s data is lower due to its smaller (and cheaper) sensor suite.

Tesla occasionally releases a safety report, but the data included is quite minimal and has not been published in any scientific journals for peer review.

But most observers (other than Tesla CEO Elon Musk, whose observational capacities are questionable these days; and Andrej Karpathy, a well-respected top AI researcher and former Tesla AI lead) think that camera-only is not going to be able to get us to true self-driving vehicles.

Charge your electric vehicle at home using rooftop solar panels. Find a reliable and competitively priced solar installer near you on EnergySage, for free. They have pre-vetted installers competing for your business, ensuring high-quality solutions and 20-30% savings. It’s free, with no sales calls until you choose an installer. Compare personalized solar quotes online and receive guidance from unbiased Energy Advisers. Get started here. – ad*

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

Hyundai has an advanced new electric SUV for China: Meet ELEXIO

Published

2 hours ago

on

May 1, 2025

By

Hyundai has an advanced new electric SUV for China: Meet ELEXIO

Hyundai-electric-SUV-ELEXIO

It’s not the IONIQ 4, but Hyundai promises it will be a game changer. After unveiling its new electric SUV, ELEXIO, Hyundai said it’s about to “write a new chapter” in the world’s largest EV market.

Hyundai unveils new ELEXIO electric SUV

After Beijing-Hyundai released the first “spy” photos in March, speculation arose that the new electric SUV could be the IONIQ 4.

At first, it almost looked like a smaller, sportier IONIQ 9, but as more images emerged, it became clear that this model is specifically designed for the Chinese market.

The electric SUV features a full-length light bar across the front with a closed-off grille. It’s also much less boxy than the IONIQ 9 with an aerodynamic profile.

Advertisement – scroll for more content

On April 21, Beijing Hyundai revealed its “In China, for China, to the World” strategy in Shanghai, where the ELEXIO made its global debut during a media-exclusive event. Hyundai said the electric SUV’s debut “opened a new starting point for the transformation from traditional fuel vehicle giant to electrification.”

ELEXIO is Hyundai’s “first pure electric platform SUV” in China. Unlike its IONIQ models, the new electric SUV features local technology to attract buyers in China.

During the event, Hyundai called China a “must-fight place” for global automakers and “the core of Hyundai Motor’s global strategy.”

The company plans to build a full lineup of pure electric, hybrid, and extended-range vehicles with advanced new sedans, SUVs, and MPVs.

Its first, ELEXIO, breaks into the high-end segment with “new quality.” Beijing Hyundai said it will continue to anchor its strategic position in the Chinese market.

Hyundai’s new ELEXIO electric SUV will make its public debut on May 7 with an official launch scheduled for later this year.

Like most major automakers, Hyundai aims to keep pace with EV and tech leaders emerging from China, such as BYD. Last year, it opened its first overseas R&D center in China as it looks to spark a comeback. As part of its 8 billion yuan ($1.1 billion) investment, Beijing Hyundai plans to boost sales in China while doubling exports.

Will the new ELEXIO SUV help Hyundai compete with BYD and others in China? Let us know your thoughts in the comments below.

Source: TheKoreanCarBlog, Beijing Hyundai

FTC: We use income earning auto affiliate links. More.

Continue Reading

Trending