Analysts are starting to wonder if the world needs less oil than what's commonly believed, Axios' Emily Peck reports.

• Retail prices for gas and diesel are both up around 30% globally year over year amid the Iran war, Goldman Sachs analysts said in a recent note.
• As a result, demand is dropping fast for gas, diesel, jet fuel and petrochemicals.

📉 Economists expected that "demand destruction" to trigger a big economic slowdown. But it hasn't — at least not yet.

• That's partly because consumers have new ways to shift away from oil.

🚙 For example: People are switching to electric vehicles in Europe and (especially) China.

• That's less true in the U.S., after the Trump administration stopped pushing EVs and renewables.

🇨🇳 JPMorgan analysts wrote in a research note last week:

• "We spent last week in China, and the most striking takeaway ... was not simply that oil demand has fallen. It was that it may have dropped by as much as 9% ... abruptly, unexpectedly and with remarkably little visible disruption."

⛽️ Between the lines: Today's energy system was built after the 1973 oil crisis, which convinced countries and businesses to improve fuel efficiency.

• Today's crisis could spark an even more radical shift, with the Iran war leading to "the steady decoupling of economic activity from oil consumption itself," the JPMorgan analysts wrote.

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Moderate and establishment-oriented Democrats have a slight edge as the votes are being counted in last night's primaries, Holly Otterbein reports.

• That's leaving a muddled picture of what Democratic voters want heading into the midterms.

🐎 Some races are still too close to call, but here's what we know so far about the hottest contests:

1. Iowa's Senate primary: Moderate state lawmaker Josh Turek easily topped Zach Wahls, a progressive endorsed by Sen. Elizabeth Warren (D-Mass.).
2. New Jersey's 12th District: Progressive Sen. Bernie Sanders (I-Vt.) and Rep. Alexandria Ocasio-Cortez (D-N.Y.) got their pick: Adam Hamawy, a U.S. Army veteran and plastic surgeon.
3. California's 11th District: Two Democrats — moderate state Sen. Scott Wiener and progressive Connie Chan — will face off this fall to succeed former Speaker Nancy Pelosi, who endorsed Chan.
4. California's 22nd District: Progressive Randy Villegas is leading establishment-backed Democrat Jasmeet Bains. The winner takes on top vote-getter GOP Rep. David Valadao.
5. California's open primary for governor: This one hasn't been called yet, but President Trump-backed Republican Steve Hilton and former Health and Human Services Secretary Xavier Becerra are ahead. Billionaire philanthropist Tom Steyer, who ran as a progressive, is in third.

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1. 🏟️ World Cup host stadiums are blocking out their corporate branding because the existing rights-holders aren't FIFA sponsors. For example: AT&T Stadium will be temporarily renamed "Dallas Stadium." Go deeper.
2. 🤬 President Trump confirmed that he sharply criticized Israeli Prime Minister Benjamin Netanyahu over Lebanon during a tense and profanity-laced call, as Axios first reported. Go deeper.
3. 🤖 Instant delivery platform Gopuff is launching an AI-based personal shopping assistant, running on Elon Musk's chatbot Grok, that will automatically fill your cart with more stuff, Axios' Madison Mills reports.

PepsiCo chefs travel the world to find new flavors for Doritos and other snacks, Axios Dallas' Naheed Rajwani-Dharsi reports.

• Golden Sriracha Doritos were inspired by one chef's Thai heritage. Mexican Street Corn Cheetos came after a trip to Puebla, Mexico.

👅 How it works: Company chefs make a dish emulating their desired flavor, then work with taste testers and seasoning experts to turn it into a snack.

• Launching a new flavor can take up to two years.

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