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Smoke billows in the distance from an oil refinery following an Israeli strike on the Iranian capital Tehran on June 17, 2025.

Atta Kenare | Afp | Getty Images

Analysts are struggling to predict the extent to which Israel and Iran’s escalating conflict could influence oil prices.

Israel’s surprise attack on Iran’s military and nuclear infrastructure on Friday has been followed by five days of spiraling warfare between the regional foes.

U.S. President Donald Trump on Tuesday called for an “unconditional surrender” from Tehran, warning Washington’s patience was wearing thin.

Energy markets are weighing the likelihood of direct U.S. involvement in the conflict, as well as the potential for major supply disruptions — particularly worst-case scenarios, such as Iran blocking the highly strategic Strait of Hormuz that links the Persian Gulf to the Gulf of Oman.

John Evans, an analyst at oil broker PVM, said Wednesday that a “blanket of unease” had descended upon oil markets in recent days.

“Our market is settling into a world where missile exchanges are commonplace but the cynicism of it being normal has yet to set in because of how easily the situation could escalate,” Evans said in a research note.

Iran’s ongoing retaliatory attacks with ballistic missiles towards Israel are seen from Tel Aviv, Israel on June 17, 2025. Iran has resumed ballistic missile operations in response to Israeli attacks.

Anadolu | Anadolu | Getty Images

Israel’s Bazan oil refinery complex sustained damage from an Iranian attack earlier this week, while an Israeli airstrike at the South Pars field, the world’s largest gas field, prompted Tehran to partially suspend production. The South Pars gas field is shared between Iran and Qatar.

“The situation is as fluid as the underlying commodity it mostly affects and while there is a fraternal ‘your guess is [as] good as mine’ in future price divination, positioning will continue to be at least defensively long,” PVM’s Evans said.

The chief executives of oil companies of TotalEnergiesShell, and EnQuest told CNBC on Tuesday that further attacks on critical energy infrastructure could have serious consequences for global supply and prices.

‘It is a roulette’

Oil prices, which have jumped in recent days, were trading in mixed territory on Wednesday.

International benchmark Brent crude futures with August delivery stood little changed at $76.43 per barrel at 12:48 p.m. London time. U.S. West Texas Intermediate futures with July delivery, meanwhile, traded flat at $74.86 per barrel.

Per Lekander, founder of investment management firm Clean Energy Transition, described the situation for oil markets ahead of Israel’s attack on Iran last week as “bad,” given plentiful supply growth from OPEC and non-OPEC producers and soft demand.

“I was increasingly convinced we were heading for a 2014/2020 reset lower to $30-50 to get capex down and start a new cycle. In fact, the current conflict makes that outcome even more likely when [the] conflict is over as producers are now producing and hedging as much as they can,” Lekander said in a note.

“While this is going on it is a roulette. We have a $10 [per barrel] risk premium in the price which is fair given that there clearly are some interruptions (mainly Iran exports and some lower tanker loadings),” he added.

What next for oil prices?

The Schork Report flags risk of oil prices hitting as much as $123 per barrel

“We are now facing the biggest threat to the oil markets since Iraq invaded Kuwait in 1990 and perhaps even greater than the 1974 Arab oil embargo,” he added.

Schork said there was a roughly 5% chance of oil prices climbing to above $103 per barrel within the next five weeks, with much longer odds of crude soaring as high as $160 per barrel by the end of summer, if flows out of the Persian Gulf are seriously disrupted.

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Tesla leads price cuts as US EV sales post 2nd-best month ever

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Tesla leads price cuts as US EV sales post 2nd-best month ever

US EV sales are surging as prices dip and automakers pile on record incentives to clear out inventory before the $7,500 EV tax credit vanishes, according to Kelley Blue Book’s latest numbers.

The average price for a new EV in July was $55,689, down 2.2% from June and 4.2% lower than a year ago. Leading the price drop was Tesla, which averaged $52,949 last month, down 2.4% from June and a hefty 9.1% year-over-year.

Tesla sweetened the deal with bigger incentives in July, which helped boost sales compared to June, though they still trailed last year’s numbers. A higher share of the more affordable Model 3 and Model Y also helped push Tesla’s average price down.

Across the industry, EV incentives hit their highest level ever, averaging 17.5% of the vehicle’s price – a more than 40% jump from last year. Automakers and dealers have been racing to move EVs before federal incentives expire on October 1.

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The strategy is working. Cox Automotive says July EV sales topped 130,000 – up 20% year-over-year – making it the second-strongest month for US EV sales on record.

Stephanie Valdez Streaty, senior analyst at Cox Automotive, said, “The urgency created by the [Trump] administration’s decision to sunset government-backed, IRA-era EV incentives was expected to create serious demand for EVs in the short term. If last month is any measure, Mission Accomplished. July sales were near an all-time monthly record. At this pace, Q3 will be the best ever and then some, as buyers jump in before the big incentives dry up.”

Read more: EV deals are heating up – buyers now save over $8K on average


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Lucid is about to drop a ‘bold’ new EV concept this week

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Lucid is about to drop a 'bold' new EV concept this week

Lucid is teasing what it calls a “bold new concept of electric exploration” ahead of its debut on Thursday. What exactly does that mean?

What bold new EV is Lucid revealing?

After launching the Gravity in late 2024, Lucid now offers two of the most efficient and luxurious electric vehicles on the market.

The Lucid Air was the best-selling electric luxury sedan in the US in the first half of the year. After overcoming a few hiccups, production is expected to “significantly increase” in the second half of the year.

Meanwhile, Lucid is hinting at another new EV model after teasing what it calls “a bold new concept of electric exploration” on social media.

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Although the details are still pretty slim, you can see a few interesting features in the teaser. One of the biggest giveaways is what appears to be a roof-mounted light. As an exploration EV, this will likely be one of the few added upgrades. It will also feature rugged, blacked-out wheels and other off-road elements.

Given what we know so far, all signs point to an off-road Gravity variant. Lucid could be preparing its version of the souped-up Rivian “California Dune Edition” trims for the R1S and R1T.

The special edition Dune models feature Rivian’s Tri-Motor powertrain and added off-road upgrades like a unique sand-color paint, 20″ All-Terrain wheels, and reinforced underbody shields. The R1T electric pickup also gets an added powered tonneau cover.

Lucid-new-EV-concept
Lucid Gravity Grand Touring in Aurora Green (Source: Lucid)

The only other Lucid Gravity model due out is the lower-priced Touring. It’s set to arrive later this year, starting at $79,900. However, with the upgrades, it’s unlikely to be the new EV concept Lucid will unveil later this week.

For now, the Lucid Gravity Grand Touring is available starting at $94,900 with an impressive range of up to 450 miles. Lucid also sells a limited number of Dream Edition models, boasting over 1,000 horsepower.

Lucid-Gravity-SUV
Lucid Gravity (Source: Lucid)

Could it be the midsize EV that’s scheduled to launch in the second half of 2026? Again, it’s not likely. We will have to wait until Thursday to learn more, when Lucid reveals the bold new EV concept at Monterey Car Week on August 14. Check back later this week for the unveiling.

What do you think it will be? An off-road Gravity? Drop us a comment below and let us know your thoughts.

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Velotric Breeze 1 e-bike first discount with $150 in free gear from $1,699, Navee Back to School Sale, EcoFlow 48-hour flash sale, more

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Velotric Breeze 1 e-bike first discount with 0 in free gear from ,699, Navee Back to School Sale, EcoFlow 48-hour flash sale, more

We’re kicking off this week’s Green Deals with the first-ever cash discount on Velotric’s new Breeze 1 Cruiser e-bike in a red colorway with $150 in free gear at $1,699. Right behind it is Navee’s Back to School Sale that is offering a bunch of e-scooters at up to $600 off with bonus 15%, 20%, and 30% savings, like on the new flagship ST3 Pro Electric Scooter starting from $684. We also have another EcoFlow 48-hour flash sale that is offering the DELTA 2 Max Portable Power Station with a protective bag at its best rate, as well as expansion battery and solar panel bundles too – all starting from $319. We also have Worx’s Nitro 20V 5-inch Cordless Chainsaw sitting $1 above its all-time low, as well as a new one-day-only low price on the Greenworks 80V 17-inch Cordless String Trimmer. Plus, all the hangover savings from last week are at the bottom of the page, rounded together in our Electrified Weekly coverage.

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’s 70-mile cruising Breeze 1 e-bike with SensorSwap tech, Apple Find My, more gets first savings and free gear from $1,699

Velotric is offering a collection of seasonal promotion bundles with many of its newest e-bikes, while also providing some select price cuts. Of the models seeing discounts, we spotted the very first cash savings on Velotric’s new Breeze 1 Cruiser e-bike in its red colorway that is coming with $150 in free gear at $1,699 shipped, while the others are just getting the bundle for free. It was released back in March but has been keeping up at its full $1,799 price tag in the time since, with only some bundle packages ever being offered towards savings. Now, not only are you continuing to get the rear cargo rack and fenders from before, but you’ll also get $100 off the price tag for the best deal we have yet seen.

The new Velotric Breeze 1 e-bike is a 48-pound commuter that is perfect to get through daily appointments as much as it’s ready to cruise the boardwalk. The streamlined and light-weight frame houses a 750W rear hub motor paired with a 627Wh battery in order to max out at 20 MPH speeds (or 28 MPH if your local laws allow it) for up to 70 miles of travel when its PAS is activated (with three modes and five levels each). One innovation that we’re seeing included more in the newest models from this brand is the SensorSwap technology, which lets you switch between a cadence or torque sensor, depending on your preferences and the terrains you’ll be travelling across.

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It’s also nice to see Apple Find My integrations for added security and peace of mind, which comes alongside the usual array of remote companion app smart controls. From there, the experience is only further heightened as you’ll enjoy Tektro hydraulic disc brakes, KENDA puncture-resistant tires, integrated headlighting and taillight with both braking and turn signals, as well as an 8-speed Shimano derailleur, a removable trigger-control throttle, a 3.5-inch full color display sporting a USB-C port, an IPX6 waterproof construction, and more.

You can check out the full lineup of Velotric’s seasonal promotions on the landing page here.

man pops wheelie on Navee ST3 Pro electric scooter with city in background

Head to classes on Navee’s ST3 Pro e-scooter with free carbon fiber bag starting from $684 in latest sale

Navee is having a Back to School Sale running through August 25 with up to $600 in discounts across a solid lineup of electric scooters – plus, there’s bonus 15%, 20%, and 30% savings you can take advantage of too. Among the offers, my personal favorite is the new Navee flagship ST3 Pro Electric Scooter that is coming with a free carbon fiber riser bag and is initially falling to $726.75 shippedafter using the code SCHOOL15 at checkout for an extra 15% off your order, beating out Amazon by $128While this is a solid drop from its usual $950 pricing, the costs can go even lower if you’re a student or teacher with exclusive 20% discounts to $683.99 shipped, after verifying on the landing page here and receiving the appropriate code to use at checkout. We’ve mostly been seeing discounts drop the price to $760, though we have seen it go as low as $660. Depending on which of these extra savings you can pick up, you’re looking at scoring a highly advanced ride with $223 to $266 in savings at some of the lowest prices we have tracked. Head below for more on this scooter and the others in this sale.

If you want to learn more about this new flagship model or the other e-scooters seeing back to school savings, be sure to check out our original coverage of this sale here.

EcoFlow DELTA 2 Max portable power station sitting on counter next to toaster oven and condiment bottles

Save up to 60% on EcoFlow bundles for solar panels, extra batteries, and a DELTA 2 Max station from $319 for 48 hours

As part of its ongoing Home Backup Sale through August 17, EcoFlow has launched the next of its scheduled 48-hour flash sales that are taking up to 60% off a power station bundle, an expansion battery bundle, and a solar panel bundle. The only of these offers to include a station comes with a DELTA 2 Max Portable Power Station and a protective bag for $999 shipped. This bundle would normally cost you $1,978 at full price, with discounts seen on the bundles that usually include some solar paneling over the lone bag. While you won’t find this package at Amazon, you can currently find the station on its own for $1,099, making this deal with the included bag (valued at $79) all the better, saving you $979 in total off the tag for the best rate we have tracked.

If you want to learn more about this power station or the other bundle deals, be sure to check out our original coverage of this 48-hour sale here.

man sawing off tree branch with Worx Nitro 20V 5-inch cordless chainsaw

Make up to 160 cuts, even in tight spaces, using Worx’s Nitro 20V 5-inch cordless chainsaw kit at $100

Running parallel to Best Buy’s Deals of the Day offer, Amazon is bringing the price down on the Worx Nitro 20V 5-inch Cordless Chainsaw to $99.99 shipped, with it matching in price at Best Buy for only the rest of the day. This model usually fetches $150 at full price these days, which fell to $104 during last month’s Prime Day event and then dropped lower to this same rate the following week. You’re looking at another shot at the second-lowest price we have tracked, giving you $50 off the going rate and landing just $1 above the all-time low that last appeared in February.

If you want to learn more about this compact chainsaw, be sure to check out our original coverage of this deal here.

man cleaning edges of lawn against sidewalk with greenworks 80V 17-inch cordless string trimmer

Tackle up to 3/4 acres with this Greenworks 80V 17-inch cordless string trimmer kit at new $171 low (Today only)

As part of its Deals of the Day, Best Buy is offering the Greenworks 80V 17-inch Cordless String Trimmer with 2.0Ah battery at $170.99 shipped. Normally, you’d have to shell out $250 for this kit at full price, which is only available in a renewed condition directly from the brand’s website at $9 more, while at Amazon, you can only find the 16-inch model sitting at full price. We’ve seen this kit go as low as $180 in the past (last seen in May), with the one-day-only deal here giving you $79 in savings at the best new price we have tracked.

If you want to learn more about this 80V string trimmer, be sure to check out our original coverage of this one-day-only deal here.

Best Summer 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.

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