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Smoke billows in the distance from an oil refinery following an Israeli strike on the Iranian capital Tehran on June 17, 2025.

Atta Kenare | Afp | Getty Images

Analysts are struggling to predict the extent to which Israel and Iran’s escalating conflict could influence oil prices.

Israel’s surprise attack on Iran’s military and nuclear infrastructure on Friday has been followed by five days of spiraling warfare between the regional foes.

U.S. President Donald Trump on Tuesday called for an “unconditional surrender” from Tehran, warning Washington’s patience was wearing thin.

Energy markets are weighing the likelihood of direct U.S. involvement in the conflict, as well as the potential for major supply disruptions — particularly worst-case scenarios, such as Iran blocking the highly strategic Strait of Hormuz that links the Persian Gulf to the Gulf of Oman.

John Evans, an analyst at oil broker PVM, said Wednesday that a “blanket of unease” had descended upon oil markets in recent days.

“Our market is settling into a world where missile exchanges are commonplace but the cynicism of it being normal has yet to set in because of how easily the situation could escalate,” Evans said in a research note.

Iran’s ongoing retaliatory attacks with ballistic missiles towards Israel are seen from Tel Aviv, Israel on June 17, 2025. Iran has resumed ballistic missile operations in response to Israeli attacks.

Anadolu | Anadolu | Getty Images

Israel’s Bazan oil refinery complex sustained damage from an Iranian attack earlier this week, while an Israeli airstrike at the South Pars field, the world’s largest gas field, prompted Tehran to partially suspend production. The South Pars gas field is shared between Iran and Qatar.

“The situation is as fluid as the underlying commodity it mostly affects and while there is a fraternal ‘your guess is [as] good as mine’ in future price divination, positioning will continue to be at least defensively long,” PVM’s Evans said.

The chief executives of oil companies of TotalEnergiesShell, and EnQuest told CNBC on Tuesday that further attacks on critical energy infrastructure could have serious consequences for global supply and prices.

‘It is a roulette’

Oil prices, which have jumped in recent days, were trading in mixed territory on Wednesday.

International benchmark Brent crude futures with August delivery stood little changed at $76.43 per barrel at 12:48 p.m. London time. U.S. West Texas Intermediate futures with July delivery, meanwhile, traded flat at $74.86 per barrel.

Per Lekander, founder of investment management firm Clean Energy Transition, described the situation for oil markets ahead of Israel’s attack on Iran last week as “bad,” given plentiful supply growth from OPEC and non-OPEC producers and soft demand.

“I was increasingly convinced we were heading for a 2014/2020 reset lower to $30-50 to get capex down and start a new cycle. In fact, the current conflict makes that outcome even more likely when [the] conflict is over as producers are now producing and hedging as much as they can,” Lekander said in a note.

“While this is going on it is a roulette. We have a $10 [per barrel] risk premium in the price which is fair given that there clearly are some interruptions (mainly Iran exports and some lower tanker loadings),” he added.

What next for oil prices?

The Schork Report flags risk of oil prices hitting as much as $123 per barrel

“We are now facing the biggest threat to the oil markets since Iraq invaded Kuwait in 1990 and perhaps even greater than the 1974 Arab oil embargo,” he added.

Schork said there was a roughly 5% chance of oil prices climbing to above $103 per barrel within the next five weeks, with much longer odds of crude soaring as high as $160 per barrel by the end of summer, if flows out of the Persian Gulf are seriously disrupted.

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Rivian is working on a steer-by-wire system – and rear wheel steering (updated)

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Rivian is working on a steer-by-wire system - and rear wheel steering (updated)

Rivian has posted a job listing for a steering engineer, specifically mentioning work on a future steer-by-wire system for the company.

Update, Aug 11: Rivian has now specifically mentioned rear-wheel steering in a job posting.

Steer-by-wire is an automotive concept that has been around for a long time, but hasn’t yet reached mass adoption. The idea is to replace (or supplement) mechanical linkages between the steering wheel and the wheels with electronic actuators instead.

There are a number of potential benefits to this, like allowing more customizability or adaptability to a steering system, reducing mechanical complexity, or adding speed-sensitive variable steering ratios.

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Although there are also disadvantages, like a reduction in steering feel (although, since most cars are moving to electronic power steering, that was already gone anyway).

But few cars have implemented steer-by-wire systems, or at least not fully committed to them, given that mechanical steering racks are a relatively solved problem and the general inertia of the car industry which would rather stick with a solution they know than switch to something better (haven’t we here, at this EV publication, heard *that* one before…). There’s also the matter of regulations, which have often been written to require mechanical steering systems, and may need updating to allow for steer by wire.

But, steer by wire made it into mass production with the release of the Tesla Cybertruck. This was big news when Tesla committed to this – at the time, it was the only thing on the road to exclusively use a steer by wire system, though there are other cars with partial steer by wire (for example, mechanical front wheel steering, and steer by wire rear-wheel steering).

But it seems to have opened the floodgates, as a number of other companies are working on or have since released steer by wire systems (Lexus, for example).

And now, it looks like Rivian is one of those companies – though we don’t know if it’s for the front or rear. (Update: Well, now we know, it looks like they are at the very least developing a rear-wheel steering system, according to another job listing. Though the company might still be working on steer-by-wire for the whole vehicle, too)

The company posted a job listing for “Sr. Staff Technical Program Manager, Steering Actuator System,” based at its Irvine, CA headquarters (spotted by Rivianforums). This wouldn’t be so exceptional, except that the job posting also specifically points out that “you’ll have full cradle-to-grave ownership of the SBW subsystem.”

So – we know they’re working on steer by wire, to some extent.

But a few other EVs, particularly large EVs like the Rivian R1 platform is, use steer by wire just for the rear wheels – for example the Hummer EV and Rolls-Royce Spectre. These systems are particularly helpful for giant vehicles, because it allows them to be more nimble and make turns that otherwise would require a lot more… negotiation in a giant land yacht.

So it’s possible that Rivian is only working on rear wheel steer by wire here, but we’d like to think there’s a chance it’s working on steer by wire for the full vehicle.

We also don’t know if this would show up on all of Rivian’s vehicles, or only on certain models – the R2 and R3 are in development, with R2 in pretty late stages, and the R1 just got a big refresh. But, perhaps even more interestingly (and very speculatively), VW has invested heavily in Rivian for technology help, so we wonder if we might end up seeing this in VW group vehicles, or Scout vehicles eventually…


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BMW isn’t wasting any time discounting its new 2026 EVs

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BMW isn't wasting any time discounting its new 2026 EVs

Automakers are scrambling to push their EVs out the door before the $7,500 Federal tax incentive for EVs disappears — and BMW is no different, offering aggressive cash back, owner loyalty, and special financing rates on its just-released 2026 model year EVs.

BMW has a history of offering solid loyalty incentive programs on its EVs in early summer to clear the tail-end of the model year and make room for the incoming builds, but CarsDirect is reporting some unusual loyalty deals from the brand that seem to suggest BMW is keen to capitalize on a spike in EV sales ahead of the Federal tax incentive’s looming cancellation in September.

BMW dealers now have the choice of adding an additional $1,000 loyalty contribution on select 2026 EVs. The i5 and i7 are offered with $1,000 and $4,000 loyalty bonuses, respectively, meaning if you drive a BMW and your dealer opts to tack on the extra bonus, you could save $5,000 on a 2026 i7. These loyalty programs are good when buying or leasing.

There’s also a $1,000 conquest bonus available for drivers of eligible EVs and PHEVs from other brands. This program is stackable with other offers.

CARSDIRECT

Like other EV brands offering huge lease incentives, BMW customers will see the largest rebates on new BMWs when leasing. Now through September 30th, 2026 BMW i5, i7, and iX models are available with a stout $9,900 lease credit, while the bigger BMW XM comes in with a slightly lower, but still substantial $7,500 lease incentive.

Big deals on big BMW i7 sedan


BMW-suspension-1
BMW i7, via BMW.

People who prefer to own their vehicles once the payments are up can still score a great deal on an objectively excellent 2026 BMW i7 luxo-cruiser, thanks to the previously mentioned loyalty bonus if they’re previous customers plus a $7,500 Loan Credit that anyone can get when financing their new i7 with the brand’s captive financing company. BMW Bank offers financing rates as low a 3.99% for up to 60 months on the 2026 i5 and i7 sedans, as well as the iX crossover, as well as 4.99% APR 60-month rate on the high-performance XM plug-in hybrid.

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The BMW iX, of course, snatched the top spot in J.D. Power’s EV Satisfaction Survey last year, having taken the crown from its BMW i4 stablemate. You can find out what’s behind that score here, or experience it for yourself at a local BMW dealer near you. Click the link(s) below to get a uniquely tailored offer on the exact BMW you want (trusted affiliate links).

SOURCES: CarsDirect, J.D. Power; images via BMW.


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Prologis set to generate a MASSIVE 82 MW of energy with rooftop solar

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Prologis set to generate a MASSIVE 82 MW of energy with rooftop solar

This week, industrial real estate giant Prologis flipped the switch on a rooftop solar project at one of its Franklin Park, Illinois warehouses — the first of 45 such rooftop installations the company plans to deploy in the next two years. Once finished, Prologis’ community solar project will generate up to 82 MW of clean energy!

Co-developed with Illinois utility ComEd and SunVest Solar, the independent power producer, the new rooftop community solar installation in Franklin Park sits atop a 195,000 sq. ft. Prologis logistics center serving a number of local and regional businesses.

Prologis will own and operate the 1.56 MW community solar project, and the energy it generates will serve mostly residential customers, with the minority of the community solar credits created benefiting local businesses.

We’re proud to join ComEd to officially launch this project, the first of many community solar projects that our energy team is deploying across our Illinois rooftops,” explains Carter Andrus, Prologis’ Chief Operating Officer. “Illinois is one of the fastest-growing solar markets in the country, and we’re excited to help lead its momentum. For us, this is about more than solar panels … it’s about using our scale to make a real difference in the communities where we operate and bring the benefits of clean energy to more people across Illinois.”

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Collaborative effort


ComEd, Prologis, and Sunvest executives; via ComEd.

Prologis is deeply invested in a number of distributer energy resources (DER), including rooftop solar, battery energy storage, and OnDemand Power, a scalable, portable microgrid and power management solution (read: software) designed to provide resilient, backup, and dispatchable energy where and when it is needed across the company’s global portfolio.

“As we continue to support the expansion of solar across northern Illinois, new and planned Prologis rooftop solar sites promise to provide northern Illinois customers additional options for lowering their energy costs via renewable energy connected to the grid,” offers Gil Quiniones, President and CEO of ComEd. “With dozens of additional projects in the pipeline, we are seeing the effect of the pro-solar incentives put in place by Governor JB Pritzker’s administration and how they support a cleaner, more equitable energy future in our state.”

With nearly 800 MWs of rooftop solar and energy storage already deployed and 82 more coming from Northern Illinois alone, Prologis is on track to reach its goal of 1 gigawatt by end of 2025. (!)

SOURCE | IMAGES: ComEd, Sunvest.


If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them. 

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.

FTC: We use income earning auto affiliate links. More.

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