G7 Diesel Shock Relief: G7 countries agreed to release up to 100 million barrels of diesel and crude from emergency reserves after US pressure, aiming to cool surging fuel prices in Europe. OPEC+ Output Hold: OPEC+ kept November oil output targets unchanged, despite ongoing Middle East disruptions that are still leaving exports well below quota levels. Middle East Shipping Squeeze: Iraq shipped about 2 million barrels through the Strait of Hormuz for the first time in decades as war-related risks choke exports, while Iran’s currency collapse and tanker attacks underscore how fragile supply routes remain. India Gas Pricing Move: India raised the ceiling price for gas from difficult fields (including KG-D6) to $9.89/MMBtu for Oct 1–Mar 31, while keeping legacy-field caps at $7. US Refining Bottleneck: US crude production is at a record pace, but diesel prices hit highs because crude and diesel aren’t interchangeable and distillate inventories stay unusually tight. Policy & Politics: California gas prices near all-time highs; in the UK, households on certain standard variable tariffs were warned to switch as bills rise again. Nigeria Accountability Push: SERAP urged President Tinubu to investigate alleged ₦94.4bn in unremitted petroleum funds. Local Energy Updates: Saudi Arabia approved a natural gas distribution network licence for Al-Kharj Industrial City, supporting liquid-fuel displacement.