Middle East Energy Shock: Iran’s Strait of Hormuz closure threat and wider Iran–US tensions are again rattling oil markets, with analysts warning disruptions could spill into shipping, fertilizer, food and the wider economy for months or years. Market Mood Swings: Oil slid sharply on renewed hopes of a US-Iran peace deal, while US officials said Hormuz flows are recovering to about half pre-war levels—though investors are still watching for any reversal. India Under Strain: India’s foreign minister hit back at Western “double standards” over sanctions, as the oil shock threatens to widen India’s budget deficit target. Gas Deal Watch: Qatar denied secret coordination with Iran over gas, while Qatar’s North Field damage and new claims of side dealing underscore how gas infrastructure is getting pulled into geopolitics. Venezuela–Shell Push: Venezuela granted Shell a license to develop the Loran gas field, adding to a broader push to attract foreign investment in oil and gas. Renewables & Grid Moves: Bangladesh welcomed renewable tax incentives; Mississippi County secured $3.5B for a major solar-plus-storage project; and Kansas communities won resilience funding. Local Energy Reality Checks: East LA businesses can seek compensation after an oil spill; Avista paused a big data-center power request amid community concerns; and New York’s grid operator warned the system is nearing another capacity crossroads.