Geopolitics & Oil Markets: Iran’s pressure on the Strait of Hormuz appears to be easing as Gulf Arab crude flows improve, but volumes remain below pre-war levels—keeping energy risk and inflation sensitivity high. India–US Maritime Tensions: India summoned the US Deputy Chief of Mission again after US strikes off Oman killed three Indian seafarers, escalating pressure on Washington as shipping security becomes a core energy-supply concern. India Fuel Policy: India restricted bulk buying of petrol and diesel from retail outlets for 90 days and capped daily diesel purchases to curb shortages and diversion. Macro & Inflation: India’s retail inflation rose to 3.93% in May, with food and fuel costs and weak monsoon/El Niño risks in focus. Climate & Weather: India’s monsoon forecast was cut to “below normal” on El Niño brewing in the Pacific. China Energy Transition: China’s renewables met all electricity demand growth in 2025, while PV end-of-life waste is set to surge later this decade. Power & Renewables (India): NTPC Green Energy added 50 MW solar in Rajasthan; Adani Green Energy expanded via a new IFSC treasury subsidiary and received an “Excellent” ESG score of 77. Regional Diplomacy: China’s top legislator met Singapore’s parliament speaker, pushing cooperation in AI, clean energy and supply-chain stability. Energy Security Theme: A World Bank note highlighted how transition policy must be built around development to avoid inflation and backlash.