Middle East Shock to Oil Markets: Oil jumped more than $4 a barrel to five-week highs as the U.S. launched fresh strikes on Iranian targets, reviving Strait of Hormuz supply fears and pushing Brent to about $94.65 and WTI to $90.22. Gas Prices at the Pump: AAA says Labor Day gas could hit a record national average near $4.03 a gallon, with drivers already feeling the squeeze as crude and refined-fuel disruptions feed through. Venezuela Deal, Big Politics, Slow Relief: The White House says the Pentagon will take a 35% stake in a Venezuelan oil venture tied to 100-year access to 17 fields (about 65 billion barrels), while analysts warn any impact on U.S. gasoline prices is likely years away. Corporate Moves in Fuels & Retail: Shell agreed to buy the remaining stake in Tri Star Energy, expanding its company-owned convenience and fuel footprint across the U.S. Grid & Power Buildout: Evergy asked Kansas regulators to approve a new gas plant plus solar and battery storage, citing rising demand from data centers. Local Energy Planning & Costs: British Columbia admitted major errors in its 2026 natural gas royalty revenue forecast, driven by spreadsheet and unit mistakes totaling about $1.5B. Supply Risk Beyond Oil: Ukraine struck Russia’s Ust-Luga oil terminal, highlighting how attacks on export infrastructure can tighten global supply. Industrial Gas Crunch in NZ: Methanex said it will close its Taranaki plant and sell off gas contracts due to declining New Zealand gas supply.