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File photo showing an oil tanker pass through the Suez Canal, Egypt. 

Peter Bischoff | Pb Archive | Getty Images

Crude oil futures fell for a fourth day Thursday, as Israel has refrained from immediately striking back against Iran after the unprecedented air assault last weekend, easing fears that the Middle East is on the brink of a major war.

The West Texas Intermediate contract for May fell 36 cents, or 0.42%, to $82.34 a barrel. June Brent futures lost 52 cents, or 0.6%, to $86.77 a barrel. Oil has sold off 4% this week as traders unwind the geopolitical risk premium built into prices over the last two weeks.

U.S. crude oil and the global benchmark have fallen below the prices reached after Israeli’s airstrike against Iran’s diplomatic compound in Damascus, Syria at the start of the month, the event that triggered the current round of hostilities.

Oil Prices, Energy News and Analysis

Tamas Varga, analyst with oil broker PVM, said it appears international pressure on Israel will compel the country to respond in a “measured and moderate” way to Iran’s weekend attack. Ukraine’s drone attacks on Russian oil infrastructure have also receded, Varga said.

“Those with bullish propensity are sinking into apathy as the risk premium that is rooted from Russia and the Near East keeps eroding,” the analyst said in a note Thursday.

The Biden administration has imposed new sanctions against Iran’s missile and drone program, but the punitive measures have spared the Islamic Republic’s oil exports for now. Treasury Secretary Janet Yellen said Tuesday that the U.S. could target Iranian oil in response to the attack against Israel.

In addition to the fading geopolitical risk premium, prices are also falling on a 10 million barrel build in U.S. petroleum inventories last week, said Giovanni Staunovo, strategist with UBS.

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Buick ELECTRA GS – GM brings back the best name in the EV business

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Buick ELECTRA GS – GM brings back the best name in the EV business

Dodge Charger. Ford Lightning. Some historic car names are just begging to be brought back as new-age electric vehicles, but the best one has always been the Buick Electra – and now, it’s back. Meet the all-new Buick ELECTRA GS concept.

It’s hard to draw a direct line between this new-age concept, which made its debut earlier today in Shanghai, and the OG 1959 Buick Electra. Heck, that car would probably have more parts in common with a lunar rover than this new electric Electra … but as Michael Keaton’s Ray Kroc says in The Founder, “I needed the name.”

The new ELECTRA GS is big, bad, and definitely designed to feel like a chest-forward statement of intent. In fact, the official copy says that the concept draws inspiration from the mythical centaur, embodying both raw power and intelligence.

“The ELECTRA GS is more than a concept. It’s a design manifesto,” said Stuart Norris, Chief Design Officer at SAIC-GM and Vice President of GM China Design. “It’s a bold statement that Buick will continue its success in the electric era with sculptural dynamism, cutting-edge technology, and uncompromised sophistication.”

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Which, sure – but did I mention it’s big? (It’s so big, you guys).

Return of the big Buick

Buick ELECTRA GS Concept; via GM.

At 5,300 mm, the concept Buick is well over seventeen feet long, and it seems tall, too – those are 23″ (twenty-three inch) wheels that scale it down a bit, but it’s nearly as big as a Chevy Tahoe/GMC Yukon at 5,334 mm.

No technical specs are provided, indicating that this very much a styling exercise, but one could easily imagine the same high-powered Ultium underpinnings found in a physics-defying GMC Hummer EV buried below the ELECTRA GS’ curves and making it more than quick enough to live up to any hype generated by the GNX version GM is bound to roll out to SEMA in a year or two.

It’s what’s inside that counts

Inside, the big electric skateboard chassis enables a flat, expansive cabin that the company says is “transformed into a bespoke sanctuary.” The car features four individual captain’s chairs wrapped in premium materials and metallic accents to deliver first-class comfort. The driver’s view is uncluttered with simple instruments and a large HUD, while a 16.3-inch ultra-wide display caters to front-seat passengers (the designated DJs on any long road trip) with bunches of connectivity but, presumably, no Apple CarPlay.

Even so, it seems like a forward-looking, high-tech vision that caters more to Chinese than American sensibilities. “In today’s connected world, where design and technology transcend borders, our team is proud to be shaping a global vision from China’s perspective,” said Norris. “The ELECTRA GS is just the beginning.”

Buick has sold more than 10 million vehicles in China since its introduction to the market by SAIC-GM in 1998, and hopes that new concepts like ELECTRA GS will help it continue to succeed despite domestic competition.

SOURCE | IMAGES: GM.

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Tenways launches its ‘carry the whole family’ cargo e-bike in the US

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Tenways launches its 'carry the whole family' cargo e-bike in the US

The electric bike brand Tenways, known for its sleek and commuter-friendly e-bikes, is officially entering the cargo bike segment in the US with the launch of the Tenways Cargo One. The front-loading electric cargo bike takes on major brands like Urban Arrow while offering a lower-cost alternative for two-wheeled family transportation.

The new Tenways Cargo One marks a significant expansion for the brand as it joins the growing category of front-loading cargo e-bikes, often referred to by their Dutch name bakfiets. The proliferation of the Dutch word for these bikes is no accident – this style of e-bike is common on streets of major cities and smaller towns alike across the Netherlands, helping families transport several kids on a single bike. The front-loading design allows parents to keep a better eye on their passengers and makes it easier for kids to get in and out of their seats, not to mention keeping the center of gravity lower.

For that reason, front-loading cargo e-bikes are a popular choice in Europe, especially in bike-centric countries like the Netherlands. Now the Shenzhen-based e-bike maker Tenways is bringing that same convenience to the US.

Unlike most of Tenways’ e-bikes, which are shipped directly to consumers for at-home assembly, the Cargo One will be delivered fully assembled via local Tenways dealers. The company cites the bike’s size and complexity as the reason for this shift in logistics, ensuring that riders receive a properly built, ready-to-ride machine from day one. Unlike a typical e-bike that requires only the wheels and handlebars to be bolted in place at home, the Cargo One’s massive passenger/storage box and more complicated linked steering require more of an expert’s touch for assembly.

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The Cargo One is equipped with an extra-large 800-liter front cargo box, designed for family transport, urban deliveries, or general heavy-duty hauling. Lighting is integrated throughout, including “EV-style” sidelights and standard front and rear LED lights, making the bike visible and safe in low-light conditions. A wide double kickstand allows for stable parking even when fully loaded.

Under the hood, the Cargo One features a Bafang mid-drive motor powered by a 960Wh portable battery. Tenways estimates a range of up to 90 km (56 miles) per charge. The drivetrain includes a Gates CDX carbon belt paired with an Enviolo stepless shifting hub, a combination prized for its low maintenance and smooth, intuitive operation.

Braking is handled by hydraulic disc brakes, and the bike is built to accommodate riders between 165 to 196 cm (5’5″ and 6’5″). With a top speed of 32 km/h (20 mph) and a total weight of 56 kg (123 lbs), the Cargo One balances performance and practicality for everyday utility cycling.

In terms of market positioning, Tenways is entering a space largely dominated by high-end European brands such as Urban Arrow and Riese & Müller. These brands have set the benchmark for quality and ride experience in the front-loader segment, but their models typically start at prices well above US $6,000, often pushing past $8,000.

At $5,499, the Tenways Cargo One offers a more accessible entry point for those looking to experience the utility and lifestyle of front-loading cargo e-bikes without reaching into luxury-tier pricing.

With the Cargo One, Tenways is signaling a serious commitment to the growing demand for family- and utility-focused electric bikes. As more U.S. cities invest in bike infrastructure and residents look for alternatives to car ownership, front-loading cargo e-bikes are gaining traction as a practical and environmentally friendly transportation solution.

Electrek’s Take

I’m all aboard this train! Cargo e-bikes are force multipliers in the two-wheeled industry, and these are the true SUVs of the cargo e-bike world. Front-loading cargo e-bikes like the Cargo One have a setup that allows for greater cargo capacity and stability.

We’ve already seen how this makes them a favorite in Europe among parents, small business owners, and urban dwellers who are replacing car trips with e-bike rides. While rear-loading cargo bikes also have their fans, front-loaders offer better visibility of your cargo – whether that’s groceries, kids, or gear – and a lower center of gravity. Front-loaders aren’t non-existent in the US. I see them occasionally in the US, but rear-loading cargo bikes are much more common due to their lower cost and smaller size.

At $5.5k, this is still a hefty chunk of change, but at least it’s a lot nicer than $8k. That difference might just help open up this market further for families that are ready to make the jump. I’m not under any illusion that Tenways is going to see huge sales on a bike like this in the US, at least not at first. But accessibility is the first battle. Once Americans have options, maybe then we can convince them to use those options.

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BP shares jump 5% as activist investor Elliott discloses stake build

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BP shares jump 5% as activist investor Elliott discloses stake build

The BP logo is displayed outside a petrol station that also offers electric vehicle recharging, on Feb. 27, 2025, in Somerset, England.

Anna Barclay | Getty Images News | Getty Images

BP shares jumped on Wednesday after activist investor Elliott went public with a stake of more than 5% in the struggling British oil major, which has pivoted back to oil in a bid to restore investor confidence.

BP shares were last seen up 4.75% at 9:44 a.m. London time. The London-listed stock price is down around 5% year-to-date.

Hedge fund Elliott Management has built its holding in the British oil major to 5.006%, according to a regulatory filing disclosed late Tuesday. BP’s other large shareholders include BlackRock, Vanguard and Norway’s sovereign wealth fund.

Elliott was first reported to have assumed a position in the oil and gas company back in February, driving a share rally amid expectations that its involvement could pressure BP to shift gears from its green strategy and back toward its core oil and gas businesses.

Within weeks, BP, which has been lagging domestic peer Shell and transatlantic rivals and posted a steep drop in fourth-quarter profit, announced plans to ramp up fossil fuel investments to $10 billion through 2027. This marked a sharp strategic departure for the company, which five years ago became one of the first energy giants to announce plans to cut emissions to net zero “by 2050 or sooner.” As part of that push, the company pledged to slash emissions by up to 40% by 2030 and to ramp up investment in renewables projects.

The oil major scaled back this emissions target to 20% to 30% in February 2023, saying at the time that it needed to keep investing in oil and gas to meet global demand.

Since switching gears, BP’s CEO Murray Auchincloss and outgoing Chair Helge Lund — who is expected to depart the company in 2026 — retained their posts but were penalized with reduced support during BP’s board re-election vote earlier this month amid pressure from both revenue and climate-focused investors.

BP 'never really tried' to become a clean energy company, says climate activist investor

BP’s strategic reset back to the company’s oil and gas activities took place just as crude prices began to plunge amid volatility triggered by U.S. tariffs and Washington’s trade spat with China, the world’s largest crude importer.

Energy analysts have broadly welcomed the strategic reset, and BP CEO Murray Auchincloss has since said the pivot attracted “significant interest” in the firm’s non-core assets.

The energy firm nevertheless remains firmly in the spotlight as a potential takeover target, with the likes of Shell and U.S. oil giants Exxon Mobil and Chevron touted as possible suitors.

BP is scheduled to report first-quarter earnings on Tuesday. The company has said it anticipates lower reported upstream production and higher net debt in the first quarter than in the final three months of 2024.

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