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The Persian Gulf Star gas condensate refinery in Bandar Abbas, Iran, on Jan. 9, 2019.

Ali Mohammadi | Bloomberg | Getty Images

Oil prices fell sharply on Thursday on expectations that the U.S. and Iran may soon reach a deal over Tehran’s nuclear program.

International benchmark Brent crude futures with July expiry were last seen trading 3.2% lower at $63.99 a barrel, paring some of its earlier losses. U.S. West Texas Intermediate futures, meanwhile, stood at $60.98, down 3.4% for the session.

Speaking in Doha, Qatar during his Middle East trip, U.S. President Donald Trump said the U.S. was getting close to securing a nuclear deal with Iran.

“We’re in very serious negotiations with Iran for long-term peace,” Trump said.

His comments come shortly after a top advisor to Iran’s supreme leader told NBC News that the OPEC producer was ready to sign a nuclear deal with certain conditions in exchange for the lifting of economic sanctions.

The prospect of a U.S.-Iran nuclear deal is expected to have profound implications for oil markets.

“The overnight development of a possible nuclear deal is the sole reason for the morning’s weakness. If an agreement is reached, Iran agrees to halt enriching weapon grade uranium and the deal is effectively enforced, which is hard to believe, then the Persian Gulf country’s crude oil exports can rise by as much as 1 [million barrels per day],” Tamas Varga, an analyst at brokerage PVM, told CNBC via email.

“It sounds price negative, but its impact will possibly be mitigated by OPEC+ rolling back on its plan to release barrels back to the market faster than originally planned,” he added.

OPEC and non-OPEC partners, an influential energy alliance known as OPEC+, has surprised markets by raising supply in recent months.

Led by Saudi Arabia, the group agreed in early May to increase output by another 411,000 barrels per day in June. The move came one month after OPEC+ agreed to boost production in May by the same amount.

Economic pain

Iran’s economy has deteriorated dramatically in the years since Trump in 2018 withdrew the U.S. from the Iran nuclear deal, formally titled the Joint Comprehensive Plan of Action. The agreement was brokered in 2015 along with Russia, China, the EU and U.K. under the Obama administration to curb and stringently monitor Iran’s nuclear activity in exchange for sanctions relief.

Already facing several years of protests, significantly weakened currency, and a cost-of-living crisis, the Islamic Republic was hit with the hammer blow of losing its main ally in the Middle East last year, when the Assad regime collapsed in Syria. Tehran’s archenemy Israel, meanwhile, killed most of the senior leadership of Hezbollah, Iran’s proxy in Lebanon.

Iran’s Supreme Leader Ayatollah Ali Khamenei was formerly staunchly opposed to negotiations with the U.S., but senior Iranian government officials reportedly launched a coordinated effort to change his mind, framing the decision as critical to the regime’s survival.

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Ram is once again delaying its first electric truck: Here’s when you can expect to see it now

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Ram is once again delaying its first electric truck: Here's when you can expect to see it now

If you’re waiting on Ram’s electric pickup, you’ll have to wait a little longer. Ram is yet again delaying its electric pickup truck, the 1500 REV, and the Ramcharger plug-in hybrid (PHEV) version. Here’s when you can expect to see them reach dealerships now.

When is Ram delaying its electric pickup truck until now?

Ram’s first electric pickup truck was initially scheduled to arrive by the end of 2024. Last year, former Stellantis CEO Carlos Tavares said the launch date would be pushed back to the first half of 2025 and then 2026.

Here we are, and the Ram 1500 REV is still nowhere in sight. According to a new memo sent to suppliers, Ram is again delaying the electric pickup truck.

The note, viewed by Crain’s Detroit Business, said production is now being pushed back until summer 2027. It will now arrive as a 2028 model year. The plug-in hybrid (PHEV) Ramcharger version will also be delayed until the first quarter of 2026.

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Stellantis confirmed the news in a statement to Crain’s, saying the delay was due to “extending the quality validation period.”

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Ram 1500 REV electric pickup truck (Source: Stellantis)

A company spokesperson explained in an email that Stellantis “continues to reassess its product strategy in North America to align it with our competitive advantage with the Range Extended Ram and in light of slowing consumer demand for half-ton BEV pickups.”

After pulling the PHEV Ramcharger ahead of the EV pickup last year, Stellantis blamed weak demand for electric trucks.

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Ram 1500 Ramcharger Tungsten (Source: Stellantis)

Outperforming the competition, or falling behind?

The Ram 1500 REV will be available with a massive 168 kWh battery, which provides an estimated 350-mile range. Ram said a larger 229 kWh battery option would be available later, with at least 500 miles range.

Tavares promised for years that Ram’s EV pickup would “outperform all competitors” where it matters most in range, towing, and charging times. The Ram 1500 REV is expected to arrive with a towing capacity of up to 14,000 lbs and a 2,700 lb max payload.

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Ram 1500 REV Tungsten interior (Source: Ram Trucks)

In comparison, Ford’s F-150 Lightning offers a driving range of up to 320 miles, a 10,000-lb max towing capacity, and a 2,000-lb max payload capacity.

The 2025 Chevy Silverado EV offers up to 492 miles of range, 12,500 lbs of towing capacity, and 1,800 lbs of max payload capacity.

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Ram 1500 REV electric pickup truck (Source: Ram)

Tavares said last year that Stellantis is “facing a very significant amount of workload” with the first electric Jeep and Dodge models, the Wagoneer S and Charger Daytona, rolling out.

Stellantis sold 2,595 electric Jeep Wagoneer S and 1,947 Dodge Charger EV models in the US in the first quarter of 2025.

Ford F-150 Lightning sales are down 7% compared to last year, with 7,187 models sold through March. Meanwhile, GM sold 2,383 Chevy Silverado EVs, 3,479 GMC Hummer EVs (including the SUV), and 1,249 GMC Sierra EV models in the first three months of the year.

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Company returns entire Tesla vehicle fleet because of Elon Musk

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Company returns entire Tesla vehicle fleet because of Elon Musk

Tscherning, a large Danish construction company, announced that it returned its entire corporate fleet of Tesla vehicles because of Elon Musk.

In Europe, Tesla is suffering from major brand damage due to its CEO’s involvement in politics.

Sales had already been declining in 2024, but the decline dramatically accelerated in 2025 after many people started to become increasingly concerned about Musk’s backing of Trump and far-right political parties in Europe.

The problem is that not only is Tesla missing out on new sales, but current Tesla owners are also rushing to sell their vehicles because they don’t want to be associated with the brand at all.

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This is also true of corporate sales, which are popular in Europe.

Last year, we reported on Rossmann, one of the largest pharmacy chains in Europe. Rossmann had a large Tesla corporate fleet and decided to sell it because of Musk’s actions.

Tscherning, a large Danish construction company, was in a similar situation. It had electrified its corporate fleet using Tesla vehicles, but it announced this week that it returned them all:

At Tscherning, we not only decide how we drive – but also who we drive with. That’s why we’ve chosen to hand over the keys to our Tesla company cars – not because Tesla has become a bad car, but in light of Elon Musk’s political commitment and the opinions he has publicly expressed (and which are increasingly hard to overlook), we as a company have chosen to say “thank you for the ride.”

The company added that it doesn’t want to be “associated with the values and political direction that currently accompany the Tesla brand.”

It will instead buy “European alternatives” to Tesla vehicles.

Tscherning shared a video of returning its Tesla vehicles:

Electrek’s Take

The situation for Tesla in Europe right now is not sustainable. I’m afraid there will likely be major layoffs and even store closures.

Despite the availability of the new Model Y for the full quarter, Q2 is currently tracking about the same as Q1, which was down 40% year-over-year:

The two lines at the bottom are Q1 and Q2 2025. As you can see, they are tracking way bellow every single quarters in the last 3 years.

And now with corporate fleets being returned and existing owners selling their cars, if you really want a Tesla, you are way better off buying it used with those cratering prices.

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No panel upgrade needed! ELECQ balances EV charging with your home’s power load

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No panel upgrade needed! ELECQ balances EV charging with your home's power load

North American homeowners who drive EVs can bump up against limited residential electrical capacities when it comes to installing Level 2 chargers. ELECQ is changing the game with the debut of its Power Monitor, which places smart EV charging at the core of home load balancing and solar integration.

ELECQ Power Monitor solves home energy headaches

Home EV charger installation can be tricky due to limited electrical panel capacity and the high cost of upgrading a home’s service. Without smart systems, that often means wasted solar power, higher energy bills, and chargers that trip the system when too much is running at once.

Active Load Management (ALM) solves this by dynamically balancing a home’s total energy usage, allowing EVs to charge without overloading the system or requiring costly upgrades. This is where ELECQ’s home energy management system comes in. The ELECQ Power Monitor tracks your home’s load and communicates with the ELECQ Level 2 EV Charger.

ELECQ Power Monitor automatically balances residential loads in real time, eliminating the need for expensive electrical infrastructure upgrades. It intelligently prevents overloads, enhancing the safety and reliability of your home’s electrical system. By proactively managing your home’s energy use, ELECQ ensures you avoid overload risks, keeping your family safe and your electricity stable.

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Seamless solar EV charging

ELECQ’s real-time monitoring and intelligent algorithms maximize EV charging directly from solar-generated energy. This reduces reliance on the electrical grid and fully utilizes your solar investment, and it also improves household energy efficiency. The ELECQ Power Monitor unlocks three solar charging modes to maximize the use of excess solar energy to charge your EV:

  • Only Solar mode: Exclusively uses solar-generated power for EV charging, entirely bypassing grid power.
  • Solar Priority mode: Prioritizes solar power for EV charging but supplements with minimal grid power if necessary.
  • Unlimited mode: Utilizes solar power primarily while the grid provides supplementary energy as needed, ensuring maximum charging speed.

Using the ELECQ app is a breeze

ELECQ’s intuitive app offers homeowners effortless management and scheduling of EV charging, providing real-time visibility into your home’s energy consumption and solar production.

The ELECQ EV charger hooks up to both 2.4G and 5GHz Wi-Fi, plus Bluetooth, so you can manage charging straight from the Elecq app—anytime, anywhere. Set it to juice up during off-peak hours and save cash on your energy bill. And you’ll automatically get the latest over-the-air updates.

The ELECQ app makes setting up and using the Power Monitor a breeze, too. You can schedule charge times, track how much power you’re pulling from the grid or your solar panels in real time, and see exactly what each session costs. Need the receipts? You can export detailed reports for every charge, right from the app.

Safe and reliable technology

The ELECQ Power Monitor and Level 2 EV charger are built with safety and reliability at the core, so you don’t have to worry when the weather or the grid gets unpredictable. The system keeps an eye on your home’s electrical load and solar production, using high-precision sensors that help it operate smoothly with panels up to 200 amps. Everything is UL certified, RoHS compliant, and tested to prevent overheating, short circuits, or fire risks.

Whether it’s a lightning strike or a power surge, ELECQ has your back. With 10kV/5kA surge protection and tough NEMA 4 and IK10 certifications, this setup is made to handle just about anything, from blizzards to blazing heat. That means it not only protects your home, but also your EV battery and charging hardware. The EV charger is safe to install indoors or out. Plus, the ELECQ Power Monitor uses Wi-Sun technology to automatically communicate with the ELECQ Level 2 EV Charger – it doesn’t even need wifi. 

The ELECQ Power Monitor is UL-certified, ensuring it meets strict U.S. safety and performance standards.

Why choose ELECQ?

ELECQ stands distinctively apart from other home energy solutions like Tesla and other traditional chargers because it’s universally compatible with solar installations and actively optimizes energy consumption.

  • Unlike Tesla’s more closed ecosystem, which often requires proprietary components like the Powerwall and Gateway, ELECQ offers an open and flexible solution. This reduces installation complexity and minimizes ecosystem lock-in, ensuring broader compatibility with diverse home energy setups.
  • Compared to traditional chargers, ELECQ enables millisecond-level data transmission with high reliability and strong wall penetration by adopting Wi-SUN, and minimal interference—unlike traditional Wi-Fi connections, which often suffer from instability and limited coverage.

ELECQ saves money and energy

The ELECQ Power Monitor and Level 2 EV charger not only combines smart home energy management with Level 2 charging but also delivers substantial savings on money and energy.

ELECQ smartly taps into your solar setup to make sure you’re squeezing every drop of clean energy out of it. That means less grid power, lower energy bills, and more money in your pocket. And since you’re using more renewable energy and less fossil-fueled electricity, you’re also shrinking your home’s carbon footprint without even thinking about it.

Order the ELECQ Power Monitor on Amazon here.

Order the ELECQ Level 2 EV charger 50A on Amazon here.

Transform your home energy future with ELECQ

ELECQ empowers homeowners across North America to manage energy more efficiently, reduce energy costs, enhance safety, and fully capitalize on solar investments. With ELECQ, smarter, greener home energy management is finally accessible and effortless.

Discover how ELECQ can redefine your energy future today. Follow ELECQ on Facebook here and on LinkedIn here.

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