Middle East Energy Shock: European gas prices jumped nearly 4% to the highest since Jan 2023 after the US launched “Operation Economic Outcast” sanctions targeting Iran’s oil, shipping, tech and digital networks, with Hormuz still largely closed and LNG delays adding pressure. Strait of Hormuz Diplomacy: Saudi Arabia and France urged a negotiated solution with Iran and called for “normal navigation” through Hormuz after attacks on vessels, as the US expands secondary sanctions. Ukraine Support, Energy Included: At the Coalition of the Willing summit in Kyiv, Zelenskyy said Ukraine will receive new military and energy packages, plus drone funding, while EU leaders push faster disbursement of the Ukraine Support Loan. UK Bills Under Strain: Britain’s energy debt crisis deepened as households owe about £6bn in unpaid bills, just as Ofgem prepares another price-cap rise. EU Policy Friction: New EU packaging rules are hitting micro-sellers hard, pushing some small makers to stop shipping into Europe. Grid Upgrade in Cyprus: Cyprus is moving ahead with a ~€95m EU-backed electricity network modernisation to boost renewables and storage readiness. Arctic Drilling Clash: Norway signalled it will keep developing Barents Sea oil and gas despite EU Arctic moratorium plans. Windfall Tax Push: Six EU countries want an EU-wide discussion on taxing oil giants’ windfall profits ahead of a Dublin finance ministers meeting.