Middle East Shipping Shock: An “unknown projectile” hit an oil tanker off Oman near the Strait of Hormuz, sparking a fire; no casualties or spills reported, but the incident underlines how quickly energy routes can reprice risk. Gas Market Outlook: The IEA says global gas demand will fall 0.5% in 2026 as tighter supply and higher prices curb use, with Asia feeling the squeeze as LNG flows remain sensitive to Hormuz disruptions. India Grid Flexibility: India’s power challenge is shifting from generation to flexibility, with solar/non-solar swings driving higher intraday price gaps and reliability stress after sunset; storage is flagged as the fix. El Niño Pressure on Hydropower: Developing El Niño is already cutting India’s hydropower output by about 20% in June, piling strain onto the grid during peak summer demand. India Solar + Storage Buildout: MNRE added Solarium Green Energy to ALMM for 1.23 GW/yr PV modules, while GK Energy won a ₹235.92 crore order for 10,000 solar-powered irrigation pumps in Maharashtra. Renewables Scaling in Japan: Japan’s BESS market is accelerating as developers expand utility-scale storage to manage solar and grid constraints. India-Indonesia Energy & Security: Modi and Prabowo agreed to broaden cooperation including energy security and defence, with deals tied to BrahMos missile systems and wider strategic alignment.