Middle East Shock to Oil Markets: The US launched fresh strikes on Iran after attacks on three vessels in the Strait of Hormuz and revoked a waiver that had allowed Iranian oil sales, sending Brent up more than 3% to around $76.6/bbl and lifting WTI above $72; Trump also said the interim ceasefire is “over,” while Iran retaliated with strikes on Bahrain and Kuwait—raising fears of longer shipping disruptions through the world’s key energy chokepoint. Sanctions Tighten on Iranian Exports: OFAC revoked Iran-related General License X, with wind-downs allowed only until July 17, after which new purchases and loading of Iranian crude and related products are again prohibited. Energy Security Deals in the Gulf: UAE’s ADNOC signed a long-term crude supply and emergency coordination partnership with South Korea, including strategic stockpiling cooperation. Grid & Storage Moves: Maruti Suzuki commissioned a 1 MWh battery storage system at its Kharkhoda plant to store surplus solar power and cut manufacturing emissions. Nigeria Pushes Gas-Led Growth: NNPC said crude output hit 1.71 mbpd and gas production reached 7.5 bscfd, calling for stronger industry collaboration to unlock investment. Russia Refining Hit: Ukraine drone strikes reportedly forced Russia’s Omsk refinery to halt processing, a potential fuel-supply pressure point.