As Netanyahu vows Iran payback, markets watch for dangers of further escalation
Israel’s Iron Dome anti-missile system intercepts rockets, as seen from Ashkelon, Israel, October 1, 2024
Amir Cohen | Reuters
Israel’s government has vowed a severe response to Iran’s unprecedented missile barrage into Tel Aviv, leaving the Middle East on edge as fears rise over a possible all-out war between the two long-time foes.
On Tuesday evening, Iran launched roughly 180 ballistic missiles at several sites across Israel, an attack Tehran said came in response to the Israeli assassination of Hezbollah chief Hassan Nasrallah the week prior.
Israeli authorities say there were no casualties as a result of the offensive, and that most of the strikes were intercepted. But the event marked a turning point in a series of escalatory tit-for-tat moves, as Tehran appeared adamant to re-set deterrence and prove to Israel that it could — and would — attack at a time of its choosing.
Markets are now braced for what could follow a likely Israeli retaliation against Iran. Defense stocks are rallying — and long-subdued oil prices may also be set for increases, as industry watchers now see a real threat to crude supplies.
As much as 4% of global oil supply is at risk as oil infrastructure in Iran — one of OPEC’s largest crude producers — could become a target for Israel.
Oil prices gained over 5% in the previous session following the missile strike, before tapering to a 2.5% climb. The December delivery contract of global benchmark Brent was trading at $75.37 per barrel at 10:30 a.m. in London, while front-month November U.S. West Texas Intermediate futures were up 2.68% to $71.70 per barrel.
“I think this focus might be on Israel, but the focus should really be on Iran, and whether there will be attacks on regional infrastructure. That really is the one event that we are looking for, and which could determine a more dangerous path for stock markets, for risk assets in general,” Frederique Carrier, head of investment strategy for the British Isles and Asia at RBC Wealth Management, told CNBC’s Capital Connection on Wednesday.
“We know, looking at the acts of war since the 1940s, that those which create an oil crisis [and] a prolonged increase in oil prices are the ones which have a long-lasting impact on stock markets.”
She added that so far, there is “no indication” of that.
Oil infrastructure ‘tempting targets for Israel’
Lewis Sage-Passant, an adjunct professor of intelligence at Sciences Po in Paris, described energy markets as jittery, as investors watch for Israel’s next moves.
“Iran depends on a handful of ‘chokepoint’ export terminals, such as Khark island, which will be tempting targets for Israel,” Sage-Passant said. “Energy sector teams seem nervous about an escalating tit-for-tat of strikes against regional infrastructure. Even without direct targeting, much of the world’s oil infrastructure sits under these missile’s flight paths, so naturally everyone is very nervous.”
Following the Tuesday attack, U.S. National Security Advisor Jake Sullivan warned of severe consequences for Iran, saying that the U.S. would staunchly support Israel. But Washington’s efforts to de-escalate and prevent a region-wide conflict have clearly failed, according to Roger Zakheim, a former U.S. deputy assistant defense secretary and director of the Ronald Reagan Institute in Washington.
Iran’s attack and the subsequent Israeli response “may result in impact on oil, energy markets, certainly aviation, and I think certainly the defense sector … Investments in missile defense and ammunition, those companies that manufacture and produce those systems, for sure are going to be impacted by what’s playing out in the Middle East,” he said.
Immediately following the Iranian strikes, U.S. defense stocks hit record highs. Their European counterparts also ticked higher on Wednesday morning on the rising conflict risks, with Saab and BAE Systems adding 2.2%. Thales and Rheinmetall both rose more than 1.3%.
“Israelis now will respond, not only in kind, but do what is necessary to restore deterrence,” Zakheim added.
Deterrence, or full-blown war?
Questions remain whether a strong Israeli response would restore deterrence or trigger further escalation from Iran and tip the nations into a full-blown war. In a statement following the country’s missile salvos, Iran’s Foreign Minister Abbas Araghchi said: “Our action is concluded unless the Israeli regime decides to invite further retaliation. In that scenario, our response will be stronger and more powerful.”
Aside from geographical choke points in the oil market, “there are plenty of facilities on [the] Iranian side and also [on the ] Israeli side that could all be targeted in terms of critical infrastructure,” Sara Vakhshouri, founder and president at SVB Energy, told CNBC’s Capital Connection on Wednesday.
“That infrastructure is all connected,” she said, stressing that the sheer size of Iran means “it is impossible to somehow secure all of it.”
Some market watchers are warning oil could hit $100 per barrel.
Vakhshouri expressed doubts over such a forecast, noting that geopolitical events often only affect oil prices temporarily. The extent and duration of any market impact “depends on where the destruction would be and how much oil is going to be taken off the market,” she said.
“Definitely, prices will have an upward trend. [But] the other thing is that the market is focusing on huge uncertainty on both sides … [whether] it’s the demand side or the geopolitical side.”
A longer-term issue underpinning oil prices is the broader global demand picture. Brent crude hit a 33-month low in mid-September and had hovered around $70 per barrel until Iran’s missile attack on Israel, based on slowing global demand and abundant supply, particularly from non-OPEC+ producers.
“So it’s very interesting moment now,” Vakhshouri said. “We have the prices being resilient due to the fear of low demand in the market, but also the geopolitical factor is real. Any side could really push the market, and we have seen just in the past few days, how the prices go up and down, depending on how the sentiments are triggered in the market.”
Japanese equipment giant Komatsu has added a not-so-giant electric excavator to its growing lineup of battery-powered construction equipment. The new Komatsu PC20E-6 electric mini excavator promises a full day of work from a single charge.
Komatsu says the design of its latest mini excavator was informed by data sourced from more than 40,000 working days of comparably-sized diesel excavators. The company found that, in 90% of its global customers’ mini excavator deployments, these vehicles are in active use for less than 3.5 hours per day.
“This defined the target for the required, reliable working time with the excavator,” reads the Komatsu web copy. “This result makes it possible for Komatsu to offer an attractively priced machine with a performance that exactly matches the requirements.”
Keeping costs down are relatively conservative specs. Komatsu chose to power the PC20E-6 with a 23.2 kWh battery pack sending electrons to an 11 kW (~15 hp), high-torque electric motors. Not exactly super impressive on paper, but the machine has an operating weight of 2,190 kg and enough juice for up to four (4) hours of continuous operation.
More than enough, in other words, to have completed 90% of of those 40,000 work days the company analyzed.
Getting it done
If, for some reason, that four hours’ runtime isn’t enough, an on-board charging option for 230V and 3kW charging power compatible with various plug adapters is standard, with an external DC quick charger for 400V and 12 kW charging as optional. In either case, it won’t be long before the machine is back at work.
To help the later adopters sleep well about their battery-powered investments, the PC20E-6 ships with Komatsu’s E-Support maintenance program, which includes free scheduled maintenance by a Komatsu-trained technician, a 3 year/2,000 hour warranty on the machine, plus a 5 year/10,000 hour warranty on the electric driveline. The company says the battery should last 10 years.
“The Komatsu E-Support customer program is included free of charge with every market-ready electric mini excavator and offers exclusive machine support,” said Emanuele Viel, Group Manager Utility at Komatsu Europe. “The bottom line is that the risk for the end customer is significantly reduced, especially when it comes to exploring the electrification advances in the industry.”
Komatsu hasn’t released official pricing quite yet, but has revealed that the P20E-6 will begin series production this October.
SOURCE | IMAGES: Komatsu.
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Tesla has unexpectedly terminated a contractor’s contract at Gigafactory Texas, resulting in the layoff of 82 workers who were supporting the automaker’s production at the giant factory in Austin.
MPW Industrial Services Inc., an Ohio-based industrial service provider specializing in cleaning and facility management, has issued a new WARN notice, confirming that it will lay off 82 workers in Texas due to Tesla unexpectedly ending its contract with the company.
Here are the details from the WARN notice:
- State / agency: Texas Workforce Commission (TWC).
- Notice date: August 27, 2025.
- Employees affected: 82
- Likely effective date: September 1, 2025
- Context from the filing/letter: layoffs tied to an unexpected termination of a major customer contract (Tesla—Gigafactory Texas, 1 Tesla Road); positions include 61 technicians, 7 team leads, 7 supervisors, 7 managers; no bumping rights; workers not union-represented.
In April 2024, Tesla initiated waves of layoffs at the plant, resulting in the dismissal of more than 2,000 employees in Austin, Texas.
Since then, Tesla’s sales have been in a steady decline. While the automaker is expected to have a strong quarter in the US in Q3 due to the end of the tax credit, sales are expected to decline further in Q4 and the first half of 2026.
Many industry watchers have expected Tesla to initiate further layoffs due to the situation.
Electrek’s Take
We may be seeing the beginnings of a new wave of layoffs at Tesla, as the automaker typically starts with contractors.
To be fair, Tesla could also potentially end the contract unexpectedly for other reasons, but the timing does align with the need to cut costs and staff ahead of an inevitable downturn in US EV sales.
I think it’s inevitable that we start seeing some layoffs. I think Tesla will have to slow down production in the US to avoid creating an oversupply, especially in Q4-Q1.
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First, it was e-bikes, offering an efficient, effective, and low-cost way for teens and just about everyone to zip around town, yet drawing the temper of suburban traditionalists. Now golf carts are the new public enemy number one in suburbia, at least if you ask the growing number of online groups where residents complain about these small electric vehicles “clogging” their streets.
But beyond the hand-wringing, golf carts and their more sophisticated cousins known as Neighborhood Electric Vehicles (NEVs) or Low Speed Vehicles (LSVs), are quietly becoming a popular alternative to cars for short trips around US cities and suburbs.
While most people still associate golf carts with retirement communities in Florida or slow rides across 18 holes, street-legal versions have been around for the last few decades.
But these aren’t your grandpa’s bare-bones carts, complete with a golf pencil clip. Many now come with DOT seat belts, lights, turn signals, mirrors, backup cameras, and speed limiters that allow them to operate legally on roads up to 35 mph, as long as they meet all the federal requirements for Low-Speed Vehicles (LSVs).
That means such vehicles are legally allowed to operate like cars, trucks, bicycles, or motorcycles on the vast majority of residential streets and a surprising portion of urban grids. In other words, for grabbing groceries, school drop-offs, or cruising to a friend’s house, they’re a practical, cheaper, and far greener substitute for firing up a 5,000-pound SUV.
Golf carts have been slowly taking off for years, but the pandemic accelerated the trend. Sales of golf carts and LSVs spiked as families looked for safe, outdoor transportation and an easy way to get around their neighborhoods. Now, in cities all over the country, the sight of parents driving their kids to school or running errands in a cart is increasingly common. In some towns, petitions have even popped up with hundreds of residents asking for local ordinances to legalize them on more streets, according to the Daily Mail.
Of course, not everyone is thrilled. There’s growing backlash against the increase in golf carts on streets, with many residents calling them a “plague” and complaining that they’re taking up space on the roads, in parking lots, or creating unsafe conditions. While rare, there have been serious accidents too, with a handful of tragic cases highlighting the dangers of mixing small, lightweight carts with full-size vehicles. Critics argue that carts lack the crash protection of cars and don’t always fall under homeowners’ insurance policies if an accident happens.
But for every critic, there’s a supporter pointing out that golf carts take cars off the road, save money on fuel, and are no more dangerous than scooters or e-bikes – modes of transport that already share the streets. And major golf cart makers have been happy to respond to the demand with boosted sales and new models. Companies like E-Z-GO, Club Car, WAEV, Kandi, and others are all rushing new models to the market as more suburban commuters discover that their next electric vehicle might just cost a fraction of what they thought it would – and come with a better breeze, too.
Electrek’s Take
If I didn’t know any better, I’d say it’s like the Karens are just following me around to poo-poo on any alternative vehicle I happen to drive that week. They’ve hit all my favorites. Pretty soon, they’ll be coming for my electric tractors, too!
But seriously, this feels like déjà vu. The same arguments we’ve heard for years against e-bikes are now being recycled against golf carts: too unsafe, too disruptive, too “different” from the car-centric status quo.
But the reality is, again, quite the same as e-bikes. These are small electric vehicles that make a ton of sense and are totally street legal, at least when they’re built correctly to conform to the proper laws.
They come with a lot of the same benefits, too. They’re cheap to operate, easy to park, perfect for short trips, and they prevent larger cars from needlessly clogging residential streets. Will they ruffle feathers among the kind of folks who have had one too many frisbees land in their yard? Perhaps. But much like e-bikes, their popularity is only going one direction – up.
I leave you with a few images of perhaps my favorite of all, the Kandi Mini. The nay-sayers can pull it from my cold, dead, golf
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