Strait of Hormuz Shock: US-Iran tensions are cutting global LNG supply by about 20%, pushing Asia LNG prices to a 3-year high as markets price in tighter gas balances. Middle East Diplomacy: Iran and Gulf talks in Oman were postponed “in the interests of consensus,” just as a new push for a temporary shipping lane gained momentum—while US Energy Secretary Chris Wright warned traders not to bank on a near-term breakthrough. Pipeline Fallout: Saudi Arabia shut a key east-west oil pipeline after drone attacks, adding fresh supply-risk jitters. Regional Security Test: Pakistan is stepping up mediation as Yemen’s Houthi-Saudi fighting becomes a stress test for a new Pakistan-Saudi-Türkiye mutual defense pact—at a time when Islamabad also depends on Hormuz and Red Sea routes. Energy Under Fire: A Russian drone hit a passenger train near Ukraine’s Poland border shortly after Boris Johnson’s “diplomatic train” passed, underscoring how conflict is spilling into transport and energy-adjacent targets. BRICS Energy Diplomacy: The New Delhi Declaration and West Asia consensus highlight a push to keep trade and energy flows moving amid sanctions and war risks. Energy Costs Hit Industry: Nigeria’s manufacturers warn crippling electricity costs and weak financing are deepening industrial decline. AI Governance Meets Energy: South Africa’s Ramaphosa urged BRICS to set up independent AI evaluation—linking governance to the pace of powerful systems that will shape future energy demand.