Oil Markets & Geopolitics: Oman’s official crude price for August rose $2.49 to $93.38/bbl as Middle East tensions kept a supply-risk premium alive, even after Israel-Iran signaled a pause in attacks; Brent and WTI both climbed on renewed worries around the Strait of Hormuz, where shipping remains constrained. Shipping Disruption: A fire broke out on an oil tanker off Oman with 24 Indian crew safe, underscoring how quickly maritime incidents can add volatility to crude flows. EU Clean Power Support: The European Commission approved a €23bn Italian state-aid scheme to add 37.15 GW of renewables via long-term contracts for difference, aiming to help Italy hit its 2030 renewable target. Grid Resilience After Disasters: In the Philippines, Mindanao earthquake restoration is ongoing; some coal-plant units are expected back online starting Wednesday. Gas & Infrastructure Moves: New Zealand advanced plans for an LNG import facility to cover “dry-year” power risk, while India launched E85 fuel to cut oil imports via flex-fuel mobility. Energy Storage Push: Solis unveiled a broader storage portfolio at SNEC 2026, and India’s latest battery tender quietly shifts from 2-hour to 4-hour durations—signaling a move toward longer reliability. Digital Oilfield Modernisation: Oil India rolled out a digital wellhead monitoring system using industrial IoT and cloud tools to unify real-time data across dozens of sites. South Africa Power Market Reform (Opinion): A South African IPP argues electricity wheeling and storage are making offsite renewables more bankable by improving cost predictability and reliability.