Crude oil prices fall about 2% as rally on Middle East war risk takes a pause
Crude oil futures fell about 2% on Tuesday, as the rally on geopolitical risk took a pause while the market waits for Israel to strike back against Iran.
“Oil can keep ascending only for so long purely based on perceptions and not actual supply disruption,” Tamas Varga, an analyst at oil broker PVM, said in a Tuesday note.
Oil prices have surged about 13% through Monday’s close since Iran fired 180 ballistic missiles at Israel last week, raising fears that Israel might retaliate by hitting Iran’s crude industry.
Here are Tuesday’s energy prices at around 7:39 a.m. ET:
- West Texas Intermediate November contract: $75.52 per barrel, down $1.62, or 2.1%. Year to date, U.S. crude has gained about 5%.
- Brent December contract: $79.31 per barrel, down $1.62, or 2%. Year to date, the global bench mark has risen more than 2%.
- RBOB Gasoline November contract: $2.1149 per gallon, down 1.81%. Year to date, gasoline has advanced more than 2%.
- Natural Gas November contract: $2.772 per thousand cubic feet, up 0.95%. Year to date, gas is ahead about 9%.
The new CLA Shooting Brake is the first electric Mercedes vehicle available as an estate. It’s more spacious, more capable, and more high-tech than ever.
Meet the new Mercedes CLA Shooting Brake EV
Mercedes introduced the new CLA Shooting Brake on Tuesday, its first electric estate car. The Shooting Brake arrives as the second EV from the luxury brand’s new entry-level family of vehicles.
The electric wagon takes the best of the new CLA, which was revealed just a few weeks ago, and adds more space and capability.
It’s also bigger than the current CLA Shooting Brake, offering a more spacious interior. The new EV measures 4,723 mm in length, or 35 mm longer than the outgoing model.
With an extended wheelbase of 2,790 mm (+61 mm), the electric version offers 14 mm more headroom and 11 mm more legroom in the front. Rear passengers gain 7 mm of headroom but lose 6 mm of legroom compared to the current model.
Boot space is 455 L, which is 50 L more than the CLA sedan, but 30 L less than the outgoing Shooting Brake. However, it does include an added Frunk (front trunk) for an extra 101 L of storage space.
With all seats folded, overall storage space is 1,290 L. It also comes with standard roof rails, which Mercedes claims can easily fit surfboards or bicycles with a 75 kg (165 lbs) load capacity.
Inside, the new Shooting Brake is nearly identical to the CLA Sedan. It features the new Mercedes-Benz Operating System (MB.OS) with its fourth-gen infotainment.
The setup includes a 14″ infotainment and 10.25″ driver display screens. An extra 14″ passenger screen is available. A trim piece with star-pattern graphics replaces it if not. All three screens are powered by the latest-gen chips and graphics from Unity Game Engine.
Powered by the new Mercedes-Benz Modular Architecture and an 85 kWh battery, the new Shooting Brake EV offers up to 473 miles (761 km) WLTP range.
It will be available in single and dual-motor powertrains. The base CLA 250+ Shooting Brake has 268 hp (200 kW) output and a WLTP range of up to 473 miles (761 km). Meanwhile, the dual-motor CLA 350 4MATIC Shooting Brake has combined 349 hp (260 kW) and a range of up to 454 miles (730 km).
Based on its 800V architecture, the new electric estate can add 193 miles (310 km) WLTP driving range within 10 minutes. Mercedes said that should be plenty to get from Geneva to Milan or Berlin to Hamburg.
Mercedes will introduce new EV variants in early 2026, followed by a 1.5 L hybrid model. Prices will be revealed closer to launch, but it’s expected to start slightly higher than the current model. The current CLA Shooting Brake starts at around €40,000 ($46,500) in Europe.
Following the new CLA and CLA Shooting Brake, Mercedes-Benz plans to launch two SUVs. Check back soon for more info on the upcoming lineup.
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Rivian today announced a partnership with Google Maps on a new navigation system for its electric vehicles.
Rivian will continue to offer its own customized navigation interface on the 15.6-inch center touchscreen, but the underlying data is now powered by (the Automotive SDK from) Google Maps instead of third-party alternatives. Rivian cites customer feedback in making this change:
Instead of doing some small incremental improvements, we wanted to profoundly change our solution so that we make it the best navigation solution in the industry by combining strengths from both teams.
End users will benefit from fresh Google Maps traffic and “much better” routing (with improved ETAs and rerouting) information that includes crowd-sourced reports about construction, accidents, and other road disruptions. Rivian will also now show Google Maps satellite imagery in a sizable upgrade.
Rivian has already been using Google Maps for place information (hours, photos, ratings, etc.) and will now let you “tap on places of interest right on the map and learn more about hours, reviews, and contact information with just a tap.” More broadly, Rivian builds on top of Android Automotive OS and offers YouTube, as well as Google Cast.
Whether you’re about to embark on a long road trip or just trying to find the quickest way to run errands around town, navigation should be seamless, accurate and helpful.
Rivian owners will continue to have vehicle and condition-specific range EV estimates, as well as detailed information about charging stops.
Meanwhile, this Google Maps upgrade comes with a new design language that Rivian says “celebrates natural spaces in its topography and colors —from green parks to deep blue lakes and oceans.” There are also enhancements to “glanceability and easier access to information.”
These updates are also coming to the Rivian mobile app. Specifically, users can see traffic and traffic incidents, place photos/descriptions and satellite view (with a Connect+ subscription). Destination and trip sharing remains available.
Rivian Navigation with Google Maps is beginning to roll out today.
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People look at iPhones at the Apple Fifth Avenue store in New York City on May 23, 2025.
Adam Gray | Reuters
Apple and miner MP Materials announced a $500 million deal Tuesday for rare earth magnets and the development of a recycling facility that will reinforce the iPhone maker’s U.S. supply chain.
MP Materials stock climbed 23%. Shares of Apple were marginally higher.
As part of the agreement, Apple will buy rare earth magnets created at the company’s facility in Fort Worth, Texas. Both companies will combine on a new rare earth recycling line in Mountain Pass, California. MP Materials plans to start shipping magnets in 2027.
“American innovation drives everything we do at Apple, and we’re proud to deepen our investment in the U.S. economy,” said Apple CEO Tim Cook in a press release. “Rare earth materials are essential for making advanced technology, and this partnership will help strengthen the supply of these vital materials here in the United States.”.
Apple said the deal will create dozens of new manufacturing and research and development roles.
Rare earth magnets are key components that make up everything from consumer electronics such as smartphones and computers to cars and renewable energy systems.
For years, the U.S. has worked on curbing its reliance on China, which dominates the global rare earth elements supply chain. MP Materials operates the only rare earth mine in the U.S.
Earlier this month, the Department of Defense became the largest shareholder in the rare earth miner, buying $400 million in preferred stock to improve rare earth magnet supply on American soil.
Apple announced a plan to invest more than $500 billion to beef up U.S. manufacturing capabilities earlier this year. The plan included a new factory for artificial intelligence servers in Texas.
Shares of MP Materials have nearly quadrupled since the start of the year, pushing the miner’s market capitalization to nearly $10 billion. The stock has nearly doubled over the last month.
WATCH: Pentagon invests in MP Materials, guarantees floor price for rare earth minerals
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