Oil Markets & Hormuz: Oil prices eased toward pre-conflict levels after a US-Iran ceasefire memorandum and rising tanker traffic through the Strait of Hormuz, though analysts warn full normalization could take months. Geopolitical Risk on Energy Infrastructure: Ukraine-linked strikes hit Russian and occupied Crimea energy assets, including a Moscow refinery and Crimea power, fuel, and gas storage sites, with satellite thermal alerts showing fires and outages. Fuel Prices Pressure on Households: In the Philippines, Sen. Pia Cayetano urged the DOE to quickly pass any global oil declines to local pump prices, with estimates pointing to near-term diesel and gasoline drops. Energy Security Deals in Asia: Malaysia’s PM Anwar said long-term oil, gas, and diesel supply agreements with Russia and new access via Turkmenistan aim to secure energy needs for decades, with Petronas expanding Caspian upstream exposure. Renewables & Storage Partnerships: India’s SECI and MahaGenco REL signed an MoU for up to 5 GW of firm/dispatchable renewables, storage, and green hydrogen projects. Power System Governance: Bermuda’s Electricity Amendment Act 2026 gives the minister narrow public-interest powers to pause and reset planning, targeting affordability and an “imbalance” in the island’s energy sector. Grid Bottlenecks: Britain’s biggest data centre in Bedfordshire plans to run on gas until 2034 due to grid connection delays, highlighting friction between AI growth and net-zero goals.