Oil & Gas Markets: Oil slid toward a six-week low as US-Iran ceasefire hopes grew, with analysts warning tight supply buffers around the Hormuz chokepoint could still force “demand destruction” before conditions normalize. Energy Costs & Households: Moody’s estimates the Iran war has added about $60bn to US consumer energy-related costs, with gasoline driving nearly half the hit; in parallel, rising pump prices are reshaping summer spending. Geopolitics & Energy Infrastructure: Ukraine and Russia traded drone and strike claims targeting oil depots, tankers, and energy-linked sites, including attacks reported in Russia’s Rostov and Krasnodar regions and a drone hitting the turbine hall of Zaporizhzhia’s Unit 6. Grid & Power Transition: India’s CERC floated draft DSM reforms to reshape deviation pricing and better integrate renewables and storage; Germany saw thousands rally against new gas-fired power plants. Regional Energy Moves: Turkey plans a gas pipeline to Turkish-controlled Northern Cyprus by 2028, aiming to shift power generation from oil to gas. Local Impacts: Mumbai raised CNG and PNG prices, while Guilford County, North Carolina reported nearly 6,000 customers without power after outages. Renewables & Investment: A $241m solar project in Maui is pushing through permitting to meet expiring tax credits, and Oman-backed solar/storage investment continues to expand.