Strait of Hormuz Shock: Oil jumped again as the waterway stayed effectively closed, with Iran saying it “cannot trust the Americans at all” and Trump pushing for a deal; the move is dragging global bonds lower and lifting yields, feeding into a fresh stock sell-off. India Fuel Squeeze: India raised petrol and diesel by ₹3/litre for the first time in four years as crude costs surged, with the rupee sliding to a record near 96 per dollar and analysts warning more hikes could follow. US–China Summit, Iran & Taiwan: Trump and Xi projected cooperation but delivered few hard commitments; both sides stressed the strait must remain open and Iran must not get nuclear weapons, while Taiwan stayed a live flashpoint. India–UAE Energy Push: Modi’s Abu Dhabi stop locked in defence and energy pacts, including strategic petroleum reserve and LPG/storage cooperation, plus a $5bn UAE investment pledge. Clean Energy Reality Check: A new India transition report flags that renewable growth is outpacing state-level grid and utility readiness, leaving uneven progress. Corporate Moves: Siemens Energy India posted strong Q2 FY26 results; Waaree won a green hydrogen ecosystem project in Karnataka; Stellantis and Dongfeng signed a $1.2bn China production deal for Peugeot and Jeep.