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U.S. crude oil falls below $71 per barrel, continuing sell-off

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U.S. crude oil falls below  per barrel, continuing sell-off

If oil production starts rising, there could be an oversupply in 2025: S&P Global

U.S. crude futures edged lower Wednesday to trade below $71 per barrel, after selling off steeply in the previous session on reports that Israel will not attack Iran’s oil facilities.

The U.S. benchmark tumbled more than 4% on Tuesday, after Israel told the U.S. that it will limit its retaliatory strikes to military targets in Iran, senior Biden administration officials told NBC News.

Crude oil prices have given up most of the gains made in the wake of Iran’s Oct. 1 ballistic missile attack on Israel, as fears of an oil supply disruption in the Middle East have eased.

Here are Wednesday’s energy prices:

  • West Texas Intermediate November contract: $70.28 per barrel, down 30 cents, or 0.43%. Year to date, U.S. crude oil has fallen nearly 2%.
  • Brent December contract: $73.94 per barrel, down 31 cents, or 0.42%. Year to date, the global benchmark has declined about 4%.
  • RBOB Gasoline November contract: $2.0378 per gallon, little changed. Year to date, gasoline has decreased about 3%.
  • Natural Gas November contract: $2.464 per thousand cubic feet, down 1.36%. Year to date, gas has pulled back about 2%.

Don’t miss these energy insights from CNBC PRO:

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Tesla launches Supercharger network in Chile, a first entry South America

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Tesla launches Supercharger network in Chile, a first entry South America

Tesla has officially launched its Supercharger network in Chile, which is the automaker’s first entry in South America.

The automaker has expanded its efforts across North America, and most countries in Europe, and it is still gradually expanding in Asia.

But there’s one continent that Tesla hasn’t touched yet: South America.

Late last year, we reported that this was about to change when Tesla started to list jobs in Chile.

A year later, things are starting to happen.

Tesla announced today that it officially launched its Supercharger network in Chile with the first two stations:

One is in Santiago, the country’s metropole, and the other one is in Curauma, on the coast.

Tesla has already opened two stores in Chile, both in Santiago, and the automaker has a service center in the work in the city also:

Tesla is already taking orders in the country and the Chilean Model Y configurator currently shows delivery in “October-November”:

Chile is an interesting choice for a first entry into the South American market. The Chilean auto market consists of only about 300,000 vehicles sold per year.

That’s roughly the number of vehicles sold in Brazil every month.

While the size of the auto market in the country is small, there’s a strong interest for electric vehicles there, which might explain Tesla’s foray.

The country is rich in lithium, a critical material for EV batteries, which has helped create interest for electric vehicles in the country. The government also announced an initiative to allow for only new sales of electric vehicles in the country starting in 2035.

It will be interesting to see how Tesla will compete with Chinese automakers who have so far been leading the electrification of South American markets.

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Kia EV6 GT facelift finally sheds its camouflage: Here’s our first look at the updated EV

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Kia EV6 GT facelift finally sheds its camouflage: Here's our first look at the updated EV

Kia’s sporty EV6 GT is getting an overhaul. With its debut around the corner, the Kia EV6 GT facelift was spotted without camouflage for the first time.

After revealing the updated EV6 in May, Kia’s high-performance GT model is next in line for a refresh.

Kia claims the EV6 has “returned in a more perfect form” with more range, better ride quality, and a stylish new design. The updated model includes design elements from Kia’s latest EV models, like the EV3 and three-row EV9.

One of the most noticeable is the new daytime running lights and taillights with Kia’s “Star Map Signature Lighting.” The new thin LED light design is inspired by constellations, adding to its already bold look.

Kia didn’t stop at the lights. It fine-tuned the exterior, with the EV6’s hood now seamlessly flowing into the front bumper.

The GT-Line model gained additional details, including a 3D-patterned bumper for a lower, more aggressive stance.

Kia-EV6-facelift
Kia EV6 GT-Line update (Source: Kia)

Kia EV6 GT facelift spotted undisguised

With Kia’s most powerful EV, the EV6 GT (not GT-Line), next in line for a refresh, we are finally getting our first look at the updated high-performance EV undisguised.

Although we’ve caught a glimpse of the sporty EV a few times already, this is the first time it’s been spotted without camouflage.

Kia EV6 GT facelift spotted without camouflage (Source: ShortsCar)

The new photos from ShortsCar reveal the EV6 GT’s updated design. You can see the new DRLs and aggressive new bumper design right off the bat.

Like the EV6 refresh, the GT model will include a bigger battery and its fourth-gen batteries, enabling even more driving range. The new EV6 gets up to 307 miles (494 km) range in Korea, up from 295 miles (475 km).

Kia-EV6-GT
2024 Kia EV6 GT (Source: Kia)

With increased energy density, the new EV6 model can fast charge (10% to 80%) in just 18 minutes.

The interior will include Kia’s latest ccNC infotainment system, featuring dual 12.3″ driver and center screens.

According to TheKoreanCarBlog, like Hyundai’s IONIQ 5 N, the EV6 GT will also gain a virtual transmission for that “high-performance car” feel.


2024 Kia EV6 trim
Starting Price Range (EPA)
Light RWD $42,600 232 mi
Light Long Range RWD $45,950 310 mi
Light Long Range AWD $49,850 282 mi
Wind RWD $48,700 310 mi
Wind AWD $52,600 282 mi
GT-Line RWD $52,900 310 mi
GT-Line AWD $57,600 252 mi
GT AWD $61,600 218 mi
2024 Kia EV6 prices and range by trim

Starting at $61,600, Kia’s EV6 GT is one of the most affordable sports cars (electric or gas-powered) on the market. Despite the upgrades, the new model is expected to start at around the same price.

The updated model is expected to retain the current GT model’s impressive 577 hp and 546 lb-ft of torque. However, with improved aerodynamics and powertrain, will Kia’s new model top the current GT’s 0 to 60 mph time in 3.4 seconds? We will find out soon, with its debut expected by the end of 2024.

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