An oil pumpjack is pictured in the Permian Basin in the Loco Hills regions, New Mexico, on April 6, 2023.
Liz Hampton | Reuters
Crude oil futures fell for a third session Wednesday, extending this week’s losing streak as prices soften ahead of a crucial OPEC meeting in June.
U.S. crude oil and global benchmark Brent are down more than 2% for the week.
Here are today’s energy prices:
West Texas Intermediate July contract: $77.83 a barrel, down 83 cents, or 1.06%. Year to date, U.S. crude oil has gained 8.7%.
Brent July contract: $81.97 a barrel, down 91 cents, or 1.10%. Year to date, the global benchmark is up 6.5%.
RBOB Gasoline June contract: $2.47 a gallon, down 1.49%. Year to date, gasoline futures are up 17.6%.
Natural Gas June contract: $2.68, up 0.64%. Year to date, gas is up about 7%.
Oil prices are drifting lower in the absence of major developments to guide the market as traders have moved on from geopolitical tensions.
OPEC and its allies, led by Russia, will hold a crucial meeting to review production policy next weekend. A coalition of nations in the broader OPEC+ grouping are cutting 2.2 million barrels per day, which has supported oil prices this year. The group is likely to extend those production cuts as prices soften, according to analysts.
Investors are waiting for U.S. petroleum inventory data later this morning for demand signals and minutes from the Federal Reserve’s latest meeting for signs of where interest rates may go.
Stellantis is recalling over 375,000 Jeep Wrangler and Grand Cherokee 4xe plug-in hybrids, telling owners to avoid charging and park away from any buildings due to a potential fire risk.
Stellantis recalls Jeep Wrangler, Grand Cherokee PHEVs
After an internal investigation found 19 reports of fires, Stellantis said it was recalling about 320,065 Jeep plug-in hybrid SUVs in the US.
The recall affects certain model-year 2020-2025 Jeep Wrangler 4xe and 2022-2026 Jeep Grand Cherokee 4xe models.
Stellantis is recalling another 20,753 Jeep PHEVs in Canada, 2,653 in Mexico, and 32,238 in markets outside of North America.
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Until the remedy is available, the company is urging owners to refrain from charging and to park away from buildings or other vehicles. The risk of a fire is less when the battery is drained, the company said.
The batteries were produced by Samsung SDI, the same defect that led to the recall of 154,000 Jeep plug-in hybrids in 2024. Vehicles included in that recall will still need the new remedy.
2024 Jeep Wrangler 4xe Rubicon with Jeep Performance Parts (Source: Stellantis)
According to Stellantis, nine of the reported fires were from Jeep Wranglers and Grand Cherokees included in the 2024 recall.
Stellantis said a remedy “is imminent,” and affected drivers will be notified when they can schedule a service appointment.
Until then, owners can call customer care at 1-800-853-1403 with questions or concerns. You can also visit recalls.mopar.com for more information.
The recall comes after Stellantis issued one for nearly 25,000 Jeep Wrangler PHEVs less than two weeks ago due to a software glitch that left drivers stranded with bricked vehicles. Some had to be towed to dealers.
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Zero Motorcycles, long known for its powerful electric motorcycles, is diving deeper into the world of urban mobility with the launch of the all-new LS1 electric scooter. Unveiled today at EICMA 2025 in Milan, the LS1 is designed to expand Zero’s reach beyond motorcycles and into the increasingly important city commuter segment.
The LS1 marks a key milestone in Zero’s “All-Access” initiative, aimed at making electric two-wheelers available to a broader range of riders. Compact, lightweight, and built for life in dense city environments, the LS1 brings Zero’s signature electric performance into a much more approachable and user-friendly package.
Powered by a mid-mounted motor and fueled by two swappable floorboard-mounted batteries, the LS1 offers up to 115 km (71 miles) of range in standard configuration. Riders looking to go further can add an optional third battery, stored under the seat, to extend range to 170 km (106 miles).
With a top speed of 100 km/h (62 mph), ABS, traction control, and a low seat height, the LS1 seems to offer the kind of versatility and rider confidence needed for navigating tight European streets.
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For charging, the removable batteries can be topped up indoors using the included 800W charger (0–95% in 4.5 hours or 20–80% in 3 hours), or more quickly with an optional 1,500W fast charger that cuts those times nearly in half. That ease of off-board charging, combined with under-seat storage big enough for a helmet or groceries, seeks to make the LS1 a practical daily driver for urban riders and apartment dwellers.
Built as part of Zero’s expanding partnership with Zongshen, which also saw Zero roll out two trail-oriented e-motos, the LS1 seems to offer a nice balance between Zero’s design and more affordable Chinese production. And with a projected price of roughly €5,200 depending on the country/market, it seems reasonably priced to sell.
“The LS1 is designed for the people we see every day in cities like Paris, Milan, or Barcelona,” said Zero CEO Pierre-Martin Bos. “It’s simple, stylish, and makes electric riding accessible to a whole new group of riders.”
Bos recently replaced Sam Paschal as Zero’s new CEO, part of significant shifts lately at Zero that saw the company move its base of operations out of the US and reduce its workforce. A representative of Zero at the EICMA booth also explained that Zero’s former CTO Abe Askenazi is also no longer with the company.
Electrek’s Take
This is an interesting move by Zero, and probably a smart one. Flagship electric motorcycles may feature impressive performance, but they aren’t bringing in big profits right now. Smaller, modest e-motos that fit into more lifestyles are where the volume is at right now.
The LS1 brings the brand’s premium engineering and EV know-how to a format that more riders actually want, and can use every day. It’s lightweight, nimble, and doesn’t try to be a motorcycle in disguise. For city riders who’ve wanted a legit, high-quality electric scooter from a trusted brand, this could be an answer.
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After teasing another new vehicle, Toyota said “a major unveiling” is set for next week. Is this Toyota’s electric truck?
What new vehicle is Toyota teasing now?
After stealing the spotlight at the Japan Mobility Show last week with the Corolla Concept, Land Cruiser FJ, and ultra-luxe Century brand, Toyota is at it again.
Toyota is teasing another new vehicle ahead of what it’s calling a “major unveiling” set for next week. “Get ready to embark on a new journey together,” the company said.
The image appears to be of the new Hilux, Toyota’s compact midsize Hilux pickup truck. The Hilux is the best-selling pickup outside of North America, going head-to-head with the Ford Ranger and other smaller trucks. It’s even Toyota’s most popular vehicle in some markets across Southeast Asia and Africa.
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Currently in its eighth generation, Toyota’s pickup is due for an overhaul. Toyota teased the new vehicle, revealing slim LED headlights and a rugged front-end design.
A video from Toyota Thailand offers a better look at the pickup from the back and side. The rear features redesigned taillights similar to those on the front end. You can also see it’s a four-door pickup, or Double Cab.
Toyota said the major unveiling is set for November 10. We have yet to learn the prices or any powertrain specs (or even officially what vehicle it is), but it could arrive with a battery-electric (BEV) powertrain.
Toyota HiLux BEV electric pickup (Source: Toyota)
According to Drive, Toyota’s plans to release an electric Hilux pickup leaked during the Tokyo Motor Show. A slide shown to Malaysian media was leaked on Instagram, revealing two pickups, one clearly marked as a BEV. The other vehicles included the new bZ4X, Land Cruiser FJ, and Yaris Ativ.
The leaked image comes after Toyota Thailand president Noriaki Kamashita told reporters during last year’s Bangkok International Motor Show that the Hilux EV would launch by the end of 2025.
Although an electric variant is a possibility, the Hilux is expected to continue to be offered with its current mild-hybrid 2.8-liter turbo diesel engine.
We will learn more next week. Check back on November 10 for the full details.
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