Valero’s Bay Area refinery, responsible for about 9% of California’s gasoline supply, began shutting down at the end of January—earlier than many had expected. The closure promises to impact fuel markets, with imports poised to fill the gap in the coming weeks.

Western allies are working to develop joint defensive measures against cheaper Chinese steel, driven by forecasts showing steel production capacity will exceed global demand by 38% by 2027. This looming imbalance has sparked an urgent call for international collaboration to protect domestic steel industries and maintain fair market practices.

An electric truck maker with deep Amazon roots is set to disrupt the market next year with its ‘radically simple’ $20,000 electric truck. Backed by Jeff Bezos, the company aims to shake up the EV industry.