Middle East Energy Shock: Iran-US tensions are keeping oil near multi-week highs, with traders watching possible tighter Strait of Hormuz controls and tanker risks; the Brown University tracker says the Iran war has already added about $100bn to U.S. energy costs, while Brent pushes toward $98-$100 and diesel hits record levels. Policy & Politics: Trump doubled down on promises of gas prices falling below $2 after a “win” with Iran, as Iran warns it could strike exposed U.S. energy assets. Grid Reliability Under Pressure: In South Africa, a major Johannesburg outage tied to the Orlando Switching Station incident hit multiple substations and disrupted Rand Water pumping; in the Philippines’ Visayas, a bishop calls brownouts a “systemic warning,” urging grid modernization and renewables over new coal/LNG. Power Infrastructure Upgrades: India’s MP Transco is uprating Indore’s 132 kV lines with HTLS conductors to nearly triple capacity, while regulators and governments push network expansion. Renewables Momentum: MENA logged a record 16 GW of solar and wind additions in 2025, with BloombergNEF forecasting faster growth in 2026, plus battery storage scaling. Data Centers Need Power: China’s AI data centers are shifting west/north for cheaper renewables, and Flex agreed a $4.4bn EPC power deal to expand data-center power conversion. Legal Fallout in Oil: Argentina moves to file criminal complaints over Falklands oil drilling near Malvinas, escalating sovereignty-linked energy disputes.