Strait of Hormuz Risk: US forces intercepted Iranian drones near Hormuz as Washington weighs using frozen Iranian assets to fund Gulf reconstruction, while analysts warn a closure could drag on into September and reshape global oil and trade costs. Ceasefire Stalemate: A US-Iran truce has lasted two months, but negotiations are “integrated into the conflict,” leaving an unclear endgame that keeps energy markets jumpy. EU Clean-Energy Tax Cuts: The EU is moving to lower taxes on clean energy and ease system costs, aiming to cut power bills while accelerating electrification and renewables. South Asia LPG Pressure: India raised domestic LPG by Rs 29 per cylinder (Delhi to Rs 942), the second hike since West Asia volatility began, as oil firms keep absorbing losses. India Gas Supply Strain: With Iran-linked import uncertainty, Indian power plants are buying spot gas far more aggressively, highlighting how Hormuz stress is feeding into electricity fuel choices. Diplomacy Reset in Nepal-India: Nepal’s FM urged an “open heart” approach to the border dispute during a New Delhi visit, pitching practical, measurable cooperation. Local Power Affordability Fight: Nevada utility rate design sparked protests over demand charges, underscoring how energy costs are turning into political pressure. Nuclear Oversight Clash: Iran accused the IAEA of politicizing reports after access limits to bombed sites, as the watchdog cites proliferation concerns.