A pumpjack is shown outside Midland-Odessa area in the Permian basin in Texas, U.S., July 17, 2018. Image taken July 17, 2018.
Liz Hampton | Reuters
U.S. crude oil fell back below $83 a barrel on Wednesday after rallying nearly 2% in the prior session.
Traders are waiting for the latest U.S. petroleum inventory data with the market’s focus shifting back to supply and demand fundamentals as the threat of war between Israel and Iran has faded.
Here are the latest energy prices:
West Texas Intermediate June contract: $82.99 a barrel, down 37 cents, or 0.44%. Year to date, U.S. crude oil is up more than 15%.
Brent June contract: $87.14 a barrel, down 28 cents, or 0.32%. Year to date, the global benchmark is up about 14%.
RBOB Gasoline May contract: $2.72 a gallon, down 0.1%. Year to date, gasoline futures are up more than 29%.
Natural Gas May contract: $1.78 per thousand cubic feet, down 1.6%. Year to date, natural gas is down about 29%.
The U.S. Senate passed a foreign aid package that would expand sanctions against Iranian oil and target ports, vessels and refineries that knowingly accept the Islamic Republic’s crude exports.
WTI Vs. Brent
Under the legislation, President Joe Biden can waive the sanctions for national security reasons, likely limiting their impact on the oil market.
“We maintain our view that the Biden administration has no intention of strictly enforcing sanctions that could drive up global crude prices (and, as a result, US retail gasoline prices) in an election year,” the geopolitical risk service Rapidan Energy told clients in a note before the legislation passed.
Oil Prices, Energy News and Analysis
A prolonged rally above $95 a barrel for global benchmark Brent is unlikely at the current moment, said Tamas Varga, analyst at oil broker PVM.
The flow of oil from the Middle East has not been interrupted by conflict, production is growing in the U.S., inflation remains stubborn, and OPEC has ample spare capacity to roll back on the market in the event of a supply emergency, Varga said.
“It is fair to conclude that the last two on the list played the most prominent roles in bringing the price of Brent down from $92/bbl less than two weeks ago to below $86/bbl on Monday,” the analyst told clients in a note Wednesday.
The 2025 Hyundai IONIQ 5 got a major glow up with extra driving range, a sleek interior and exterior facelift, and even Tesla Supercharger access with an added NACS port. With leases starting at just $179 per month, the Hyundai IONIQ 5 might be your best bet to get into an EV right now.
How much does the 2025 Hyundai IONIQ 5 cost to lease?
Hyundai upgraded its best-selling electric SUV in every way possible for the 2025 model year. The 2025 IONIQ 5 can drive up to 318 miles on a single charge, recharge from 10% to 80% in under 20 minutes, and is available starting at just $42,500.
After cutting lease prices last month, the 2025 Hyundai IONIQ 5 was available to lease for as low as $179 per month.
The offer was set to end on July 7, but Hyundai extended it through its new “Hyundai Getaway Sales Event.” The 2025 Hyundai IONIQ 5 SE Standard Range model is still available for lease, starting at just $179 per month.
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That’s for the base version, which has a range of up to 245 miles. The offer is for a 24-month lease with $3,999 due at signing.
2025 Hyundai IONIQ 5 Limited (Source: Hyundai)
The long-range SE RWD variant, with a driving range of up to 318 miles, can be leased for as little as $199 per month. Upgrading to the AWD model will cost $249 per month. You can even snag the off-road XRT variant for $299 a month right now.
Hyundai upgraded the IONIQ 5 with a sleek facelift, adding to its already bold design. Inside, the 2025 IONIQ 5 features a redesigned center console, steering wheel, and HVAC control system based on driver feedback.
It also features a more powerful, next-gen infotainment system. The setup includes dual 12.3″ driver display and infotainment screens with standard wireless Apple CarPlay and Android Auto, voice-recognition, and more.
If you’re looking for something a little bigger, Hyundai’s three-row electric SUV, the IONIQ 9 (Check out our review), is listed for lease starting at just $419 per month.
2025 Hyundai IONIQ 5 Trim
EV Powertrain
Driving Range (miles)
Starting Price*
Monthly lease price July 2025
IONIQ 5 SE RWD Standard Range
168-horsepower rear motor
245
$42,500
$179
IONIQ 5 SE RWD
225-horsepower rear motor
318
$46,550
$199
IONIQ 5 SEL RWD
225-horsepower rear motor
318
$49,500
$209
IONIQ 5 Limited RWD
225-horsepower rear motor
318
$54,200
$309
IONIQ 5 SE Dual Motor AWD
320-horsepower dual motor
290
$50,050
$249
IONIQ 5 SEL Dual Motor AWD
320-horsepower dual motor
290
$53,000
$259
IONIQ 5 XRT Dual Motor AWD
320 horsepower dual motor
259
$55,400
$359
IONIQ 5 Limited Dual Motor AWD
320-horsepower dual motor
269
$58,100
$299
2025 Hyundai IONIQ 5 prices and range by trim (*includes $1,475 destination fee)
Both the 2025 IONIQ 5 and 2026 IONIQ 9 are built at Hyundai’s new EV plant in Georgia. The current lease offers include the $7,500 federal EV tax credit, which is set to expire at the end of September. Hyundai’s new deals are available through September 2, 2025.
Ready to test one out for yourself? We can help you get started. You can use our links below to find deals on the Hyundai IONIQ 5 and IONIQ 9 near you.
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The Tesla Semi, Tesla’s electric Class 8 semi-truck, saw its efficiency improve in a new real-world trucking test covering 4,494 miles over three weeks.
The Tesla Semi underwent significant changes over the years of delays.
Tesla officially unveiled the “production version” in 2022, but the vehicle never entered volume production. It is expected to finally happen at the end of the year at a new factory in Nevada.
Now, Tesla Semi appears to have improved quite a bit in a new real-world test by logistics company ArcBest.
The company claims to have put Tesla Semi through regular operations, varying from lane dispatch to regional runs over three weeks:
Over a three-week period, ABF operated a Tesla Semi across typical dispatch lanes, including over-the-road routes between service centers in Reno, Nevada and Sacramento, California. The pilot also included regional runs in the Bay Area and rail shuttle operations.
ArcBest claims that Tesla Semi averaged 1.55 kWh per mile during the three weeks:
The electric Semi logged 4,494 miles, averaging 321 miles per day with an overall energy efficiency of 1.55 kWh per mile.
Efficiency in the trucking business varies considerably based on several factors, including the load, but it is nonetheless an impressive performance.
Dennis Anderson, ArcBest chief innovation officer, commented on the test program:
“Freight transportation is a vital part of the global economy, and we know it also plays a significant role in overall greenhouse gas emissions. While the path to decarbonization presents complex challenges — such as infrastructure needs and alternative fuel development — it also opens the door to innovation. Vehicles like the Tesla Semi highlight the progress being made and expand the boundaries of what’s possible as we work toward a more sustainable future for freight.”
Tesla says that the truck should enter volume production toward the end of the year and customer deliveries are expected to start next year.
Range Rover now has its own logo for the first time. The luxury automaker is unveiling a sleek new look as it gears up to launch its first electric SUV later this year.
Range Rover introduces its first logo
Since it launched its first vehicle in 1970, the Range Rover badge has become an iconic status symbol. You can’t miss the classic Range Rover look.
With its first EV due out later this year, the luxury automaker is preparing for a new era. JLR revealed the new Range Rover logo, a first for the luxury automaker, during an investor presentation.
The new logo is a stark contrast to the “Range Rover” badge we are accustomed to seeing, featuring a minimalist design similar to the Rolls-Royce emblem.
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JLR told Autocar that the new logo won’t replace the signature Range Rover badge at the front or rear. Instead, it will be used to complement it.
“The Range Rover Motif has been developed as a smaller symbol for where our familiar Range Rover device mark does not fit, such as on a label or as part of a repeating pattern, and within event spaces where an emblem is more appropriate,” the company said.
With Range Rover’s first electric SUV set to hit showrooms later this year, will we see it featured on the new EV? JLR confirmed in May that the Range Rover Electric now has over 61,000 clients on the waitlist.
The company claims the new EV is undergoing “the most intensive testing any Range Rover vehicle has ever endured” ahead of its big debut later this year.
According to Thomas Müller, Range Rover’s executive director of product engineering, the electric SUV is already outperforming some of its top gas-powered models.
JLR has already begun testing new EV production lines at its Solihull, UK, plant in preparation for the new Range Rover model. Next year, the luxury brand is expected to introduce the smaller Sport and Velar EV models.
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