Auto Industry News

The sedan, imported from Toyota Brazil, is powered by flex fuel technology, which allows the engine to run on fuel blended with a higher percentage of ethanol, reducing the consumption of gasoline, along with a hybrid powertrain.

Even before a recent spike in EV sales, U.S. roads have been carrying heavier loads, as cars and trucks climbed from an average of 3,200 pounds (1,451 kilos) to 4,200 pounds over the last four decades, according to the Environmental Protection Agency.

Musk, who is also chief executive officer of electric car maker Tesla Inc, proposed to Twitter late on Monday he would change course and abide by his April agreement to buy the company for $54.20 per share, if Twitter dropped its litigation against him.

Two oil wells operated by Nigerian firm Eroton Exploration and Production Limited caught fire on Monday and were still burning on Tuesday.

U.S. climate envoy John Kerry has asked Democratic Republic of Congo to withdraw some of the oil blocks it has put up for auction in order to protect forests.

Oil prices jumped nearly $4 a barrel as OPEC+ considered reducing output by more than 1 million barrels per day (bpd).

Strikes have disrupted TotalEnergies' oil products refining and delivery for an eighth day.

G7 sanctions on Russia will target its oil and products in three phases.