A customer refuels at a Safeway gas station in Hercules, California, US, on Tuesday, May 23, 2023.
David Paul Morris | Bloomberg | Getty Images
Oil prices fell Monday as the Federal Reserve moves carefully on interest rates cuts, and the U.S. pushes for an extended pause in the Israel-Hamas War.
The West Texas Intermediate contract for March dropped 77 cents, or 0.96%, to trade at $71.63 a barrel Monday morning. The Brent contract for April was down 51 cents, or 0.66%, to trade at $76.79 a barrel.
Federal Reserve Chairman Jerome Powell said in an interview Sunday the central bank is unlikely to slash rates in March. Powell’s comments came after a much stronger jobs report than expected Friday, with the labor market adding 353,000 jobs compared to 185,000 expected.
“With the economy strong like that, we feel like we can approach the question of when to begin to reduce interest rates carefully,” Powell told CBS’ “60 Minutes.” Lower interest rates typically boost economic growth which would imply stronger crude oil demand.
The dollar rose to its highest level in more than two months Monday as investors reduce their expectations for rate cuts. A stronger greenback makes crude oil, which is priced in dollars, more expensive for holders of other currencies which can weigh on demand.
“Oil prices are falling after a reversal in the odds for rate cuts that overshadowed geopolitical risk factors that seem to be boiling over,” Phil Flynn, an analyst with the Price Futures Group, wrote in a Monday note.
Oil Prices Today
Oil traders are also closely watching whether the U.S. can successfully secure a truce in Gaza that would promise to ease escalating tensions in the Middle East.
U.S. Secretary of State Antony Blinken is heading to the region to push for an extended humanitarian pause in the fighting in exchange for the release of hostages held by Hamas. Blinken will visit Saudi Arabia, Egypt, Qatar, Israel and the West Bank this week.
The war in Gaza has pushed the U.S. and Iran to the brink of a direct confrontation, one which analysts have warned could impact crude supplies if there is a disruption in the Strait of Hormuz.
The U.S. launched retaliatory airstrikes Friday against Iran’s Islamic Revolutionary Guard Corps and allied militias in Iraq and Syria. The airstrikes, which hit more than 85 targets, came in response to the deaths of three U.S. troops in a drone strike by Iran-allied militants.
The U.S and the U.K. also launched renewed strikes Saturday against Houthi militants in Yemen. The Houthis, who are allied with Iran, have repeatedly targeted commercial shipping in the Red Sea.
Global offshore wind targets are still strong enough to triple global capacity by 2030, despite the US’s offshore wind stagnation under Trump. A new analysis from energy think tank Ember and the Global Offshore Wind Alliance (GOWA) shows that the rest of the world is charging forward, underscoring confidence in offshore wind as a cornerstone of future clean energy systems.
Based on the latest NHTSA report, Tesla’s ‘Robotaxis’ keep crashing in Austin, Texas, despite ‘safety monitors’ preventing an unknown number of crashes.
Under an NHTSA Standing General Order SGO, automakers are required to report crashes involving their autonomous driving (ADS) and advanced driver assistance systems (ADAS) within five days of being notified of them.
For years, Tesla was only reporting ADAS crashes, since, despite the names of its Autopilot and Full Self-Driving systems, they are only considered level 2 driver assistance systems.
Since the launch of the Robotaxi service in Austin, Texas, where Tesla moved the supervisor from the driver’s seat to the passenger seat, it has now reported its first few crashes under the ADS reporting.
This week, NHTSA has updated its crash report and revealed a 4th crash that happened in September:
Report ID
Incident Date
Incident Time (24:00)
Make
Model
Model Year
Automation System Engaged?
Highest Injury Severity Alleged
Crash With
Roadway Type
Weather
13781-11687
SEP-2025
01:25
TESLA
Model Y
2026
ADS
Property Damage. No Injured Reported
Other Fixed Object
Parking Lot
Partly Cloudy
As we previously highlighted, when it comes to both ADS and ADAS crash reporting, Tesla abuses the redacting capacity and hides most information about its crashes, unlike most of its competitors.
Therefore, we don’t have much information about this new crash, but it reportedly occurred in a parking lot and involved a Tesla Robotaxi crashing into a “fixed object,” resulting in property damage.
What’s most interesting about this crash is that it comes as Tesla released the first bit of data about its Robotaxi program in Austin.
During its earnings call last week, Tesla confirmed that the Robotaxi fleet has traveled 250,000 miles since its launch in late June.
Therefore, Tesla Robotaxi currently crashes at a rate of about once every 62,500 miles. That’s with a safety monitor with a finger on a kill switch, ready to stop the vehicle at all times.
We have no data on how often Tesla’s safety monitors prevent crashes in its robotaxis.
For comparison, the NHTSA report lists 1,267 crashes involving Waymo vehicles. However, Waymo’s robotaxis have covered over 125 million fully driverless miles since inception. That’s a crash every 98,600 miles and without any onboard safety monitor.
Electrek’s Take
That’s the problem with comparing Tesla and Waymo.
At least we can now clearly see that Waymo’s incident rate is much lower than Tesla’s, but that’s with a safety monitor in Tesla robotaxis that prevents an untold number of crashes.
The actual difference could be 10x higher. We simply don’t know. Tesla has always refused to share any data regarding disengagement or intervention rates.
One thing is clear: Tesla is way behind Waymo in autonomous driving safety.
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The WRX STI was axed due to stricter emissions regulations in Europe, leading many to believe it would be replaced with an electric version. Subaru even said it was looking into opportunities for a next-gen STI version, including an electrified model, but said it would not be built on the new WRX platform.
Now, we are getting our first look at the future of STI. Subaru unveiled two new STI vehicles at the Japan Mobility Show on Wednesday, one a battery-electric (BEV) model and the other a gas-powered model.
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Subaru said the EV variant, dubbed the Performance-E STI concept, “represents the future of the Performance Scene, spearheading Subaru’s new generation.”
The Subaru Performance-E STI Concept (Source: Subaru)
The electric hot hatch still features a design that “evokes the brand’s heritage,” but with a bit more flair. Unlike the gas version, the Performance-B STI, the EV debuts a new three-line LED headlight design and sportier silhouette.
According to Subaru, the electric STI is “not just a show car,” it can also be used as a daily driver. The aim was to create a performance car that “would inspire everyday life,” Subaru said, adding that “this packaging is only possible with a battery EV.”
The electric hot hatch is equipped with a cylindrical battery, which offers a lower center of gravity and opens up interior space.
Subaru said the setup results in a 15% lower center of gravity than on its previous vehicles. By optimizing downforce and air resistance, the company claims it will outperform the current Subaru Global Platform.
The electric hot hatch also features a new “next-generation suspension” that lowers the hood height by more than 5% while improving control and responsiveness.
Subaru didn’t reveal any other specifics, but said that it will incorporate “innovative technologies” to offer an intuitive, exhilarating driving experience.
Will we see the electric hot hatch actually come to life? Subaru didn’t confirm it was headed for production, but said it represents the future and spearheads a new generation. When and if we will see an electric Subaru STI remains up in the air for now.
Subaru isn’t the only one jumping into the electric hot hatch craze. Honda revealed the Super-ONE at the Japan Mobility Show today, a compact EV that’s packed with fun features.
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