Strait of Hormuz Jitters: Oil swung as hopes of a US-Iran deal to reopen the Strait of Hormuz pushed Brent up to about $80.4/bbl, after earlier steep drops; markets are still split on whether diplomacy will hold. Red Sea Shipping Risk: Yemen’s Houthis claimed a ballistic missile attack on Saudi tanker “Wafa” off Yanbu, adding to fears for Bab al-Mandab routes and crude flows. Russia Energy Under Pressure: A Ukrainian drone strike reportedly sparked a fire at Rosneft’s Bashneft-UNPZ refinery in Ufa, underscoring ongoing attacks on refining capacity. Mexico Anti-Smuggling Crackdown: Mexico dismantled four clandestine oil refineries and seized nearly a million liters of fuel derivatives, saying smuggling costs Pemex about $530m in H1. Grid Resilience in Focus: Indonesia’s Southeast Asia grids are struggling with extreme weather and aging transmission, threatening clean power investment. Long-Duration Storage Push: Ore Energy raised $43m Series A to scale iron-air batteries aimed at up to 100-hour discharge. Energy Policy & Bills: India weighs expanding strategic fuel reserves to include LNG and LPG, while the UK’s Warm Home Discount targets 6m households with a £150 boost. Local Supply Security: Serbia says domestic refinery output is key as Danube low-water conditions disrupt imports.