Middle East Energy Shock & Markets: Trump’s claim that a US-Iran deal could be signed in Europe this weekend helped pull oil lower and eased pressure on European gas, while Iran said it hasn’t made a final decision—keeping supply-risk nerves alive. ECB & Inflation Spillover: The European Central Bank resumed rate hikes, lifting borrowing costs by 0.25 points to 2.25%, explicitly citing inflation pressures from the Middle East energy shock. EU Sanctions Expansion: The EU broadened Iran-related sanctions to target those impeding lawful transit through the Strait of Hormuz, aiming at actors linked to gridlock of shipping. Gas Security in the Eastern Med: Cyprus, Greece, Israel and the US launched an Eastern Mediterranean Energy Centre in Houston to map offshore gas cooperation, starting with cybersecurity and protection of critical infrastructure. Egypt–Cyprus Gas Timetable: Egypt expects Cypriot gas to start arriving in 2028 (Cronos) and later from Aphrodite in 2030, using Damietta LNG for liquefaction and exports. Grid & Power Costs: A new ranking shows Europe’s high residential electricity prices, with Ireland, Italy, Germany and the UK among the most expensive. Industrial Decarbonisation Funding Gap: Ireland’s Aughinish Alumina complained to the European Commission about a lack of public funds for further decarbonising its Co Limerick refinery. Offshore Wind Pipeline: France is preparing a major 10 GW offshore wind tender (11 projects) with fixed-bottom and floating components. Energy Security vs. Politics: India’s Jaishankar defended Russian oil purchases as “cost and availability,” while also accusing Europe of arms sales used against India. Battery & Grid Buildout: EBRD financing and new battery storage projects across Europe underline the push to firm power as electrification accelerates.