Oil Market & Reserves: Saudi Aramco CEO Amin Nasser warned global oil stockpiles are “scarily thin,” saying rebuilding inventories after Middle East disruptions could take up to two years even if the Strait of Hormuz fully reopens. G7 Emergency Release: Markets also digested a G7 plan to release 100 million barrels of crude and diesel from reserves, offering short-term relief while shipping and infrastructure risks keep prices near $100-plus. OPEC+ Policy: OPEC+ agreed to keep November output targets steady as attacks on energy infrastructure and uncertainty around maritime routes persist. Middle East Shipping Risk: Despite Middle East crude exports rebounding toward pre-war levels, tanker attacks and Red Sea/Hormuz tensions are still being priced in, keeping refined-fuel pressure alive. Prices at the Pump: Oil softness helped some U.S. drivers, with Miami gasoline down 23 cents week-on-week, while Georgia’s gas tax suspension cut prices further. Energy Security & Industry: South Africa’s load shedding easing is shifting the debate toward industrial competitiveness, procurement complexity, and storage-backed power strategies. Regulation & Infrastructure: Dubai moved to tighten safety oversight for petroleum products trading, while Ofcom in Britain appointed Tim Jarvis as permanent chief executive amid rising household bills. Power & Transition: Arkab in Algeria reiterated natural gas’s role in the energy mix at NAPEC 2026, while Helio highlighted growing interest in space-based solar power as AI demand strains electricity systems.