US-Iran Talks & Hormuz Shipping: Oil slid for a third straight day as Qatar said “positive progress” was made in indirect Doha talks focused on implementing the June MoU—especially Strait of Hormuz shipping and unfreezing-related issues—though there was no sign of a lasting peace and the nuclear file was left for later. Oil Prices: Brent and WTI both fell to four-month lows as Hormuz flows kept rising and traders started pricing in more supply and possible OPEC+ output target hikes from August. Regional Security Stance: Iran’s deputy FM said West Asia security can’t be built under a US military umbrella, while Iran reiterated its control over Hormuz. Egypt Clean Power Deals: Egypt’s NREA signed clean electricity transmission and power purchase agreements with SCZONE Utilities and SCCT for East Port Said Port and industrial/commercial users. Egypt Storage Push: Egypt’s Cabinet granted “Golden Licenses” worth $800m for two battery energy storage projects in Aswan and Suez, aiming to strengthen grid resilience as renewables grow. Philippines Oil Buffer Plan: Philippines energy officials said a strategic oil reserve could be built within the administration timeline, targeting completion around late 2027/early 2028. Energy Policy Trend: Dozens of countries backed energy efficiency as a core policy lever to cut costs and reduce future shock exposure.