Venezuela-U.S. Oil Deal: The Trump administration announced a major pact giving the U.S. operational control over about 65 billion barrels of proven Venezuelan reserves, with talks also focused on boosting U.S. refining capacity as Iran conflict keeps fuel prices elevated. Geopolitics & Oil Markets: Fresh U.S.-Iran strikes reignited Strait of Hormuz supply fears, pushing Brent above $90 and lifting crude more than 2% while weighing on global stocks. U.S. Fuel Prices: GasBuddy reports show patchy but generally lower U.S. pump prices versus spring highs, with local lows like $3.69 regular in Miller County and $4.74 diesel in Washington County—still sensitive to refinery outages and Middle East risk. Policy & Transparency: California Sen. Catherine Blakespear moved an oil-refinery disclosure bill to inactive after it lacked Assembly votes, while Namibia’s debate over oil-gas ownership and royalties continues amid calls for fairer terms without blanket majority stakes. Grid & Power Demand: Arizona AG Kris Mayes urged a pause on new data centers over power and water strain, and California regulators advanced public input on a 300-MW Corby BESS project. Geothermal Development: The Philippines’ $170M derisking facility may support additional geothermal explorers, aiming to cut the high-risk cost of early drilling. Corporate Scrutiny: Fervo Energy faces investor scrutiny after it disclosed transmission curtailment tied to its geothermal power delivery.