Hormuz Hope Hits Markets: US-Iran “deal” chatter pushed crude down hard (WTI near $91, Brent under $98) and lifted global stocks to record highs, while gold and silver jumped as the dollar weakened. India Fuel Pain Persists: Despite four fuel hikes, India’s state oil firms are still losing about ₹600 crore a day; Finance Minister Sitharaman doubled down on the “3 Fs” (fuel, fertilizer, forex) as West Asia risk keeps costs elevated. Shipping Moves Again: A VLCC carrying ~2m barrels of Iraqi oil cleared the Gulf into the Arabian Sea, and an LNG tanker finally exited Hormuz toward Pakistan after weeks of disruption. Energy Transition, Saudi-Style: China’s ZOE Energy will build Saudi Arabia’s first BESS manufacturing plant (18 GWh capacity), aiming to localize storage for Gulf/MENA demand. Regional Deals & Security: Philippines President Marcos’ Japan visit (May 26–29) targets defense, maritime cooperation and energy resilience; Serbia and China signed 23 agreements in Beijing. Corporate Signals: Suzlon’s FY26 profit slipped 6% but deliveries hit record levels, while India’s data centers are forecast to near $46B by 2033 on AI-driven buildouts.