Middle East Energy Tensions: The US launched fresh strikes on Iranian targets, with Brent jumping as Iran warns it will prevent Gulf oil exports and the Strait of Hormuz remains effectively closed—raising the risk of a renewed six-month conflict spiral. Gulf Diplomacy: Qatar’s foreign affairs adviser said Doha is pushing mediation with Oman and Pakistan to reopen the Strait and warned against treating closure as a fait accompli, noting the escalation is already hitting sectors including energy. Ukraine Energy Security: Russia escalated attacks with drones and ballistic missiles hitting Kyiv and other regions, while Moscow said it is preparing massive strikes on Ukrainian energy facilities in response to attacks on Russian fuel and power sites. Venezuela Oil Deal: US Energy Secretary Chris Wright is set to travel to Venezuela to unveil an arrangement tied to the US taking effective control of a large portion of Venezuelan oil reserves, despite opposition lawmakers demanding details. Pacific Fuel Security: The US is expected to announce a $60m fuel security deal for Pacific islands, discussed at the Pacific Islands Forum leaders’ summit in Palau. Cuba Energy Embargo Fallout: Cuba’s tourism fell 62% in early 2026 amid US pressure and an energy embargo, with major hotel chains suspending contracts. Grid & Industry Moves: Methanex plans to indefinitely idle its NZ plant in 2027 after selling gas entitlements, while Genesis Energy secured additional gas through 2029. Onsite Power Rebrand: Alternus Clean Energy relaunched as Aedis Energy, shifting toward onsite power generation for commercial and industrial customers.