Strategic Gas Buffer: Germany confirmed a plan for a strategic gas reserve equal to 10% of storage capacity, to be filled in 2027-28 and funded via consumer levies—expected to add about €42 a year to household bills, while energy-intensive industry faces a bigger hit. Middle East Shock to Prices: Renewed US-Iran strikes and Iran’s move to close the Strait of Hormuz pushed oil up around 4-5% toward $80, rattling European markets and reviving inflation worries. EU Sanctions Gridlock: EU foreign policy chief Kaja Kallas said a 21st Russia sanctions package still lacks agreement, with ministers aiming to add 250 listings but leaving open questions on maritime services and tighter Russian LNG rules. Heat Stress on Power and Food: Extreme heat is driving higher cooling demand and raising energy costs; in Italy’s Parmesan heartland, farmers warn heat is cutting milk output and boosting electricity use for cooling. Storage Push: EU energy ministers backed the bloc’s first tripartite deal to expand storage—aiming for 30-35 GW of new capacity by 2028 to cut wasted renewables and reduce fossil backup needs. Russian LNG Still Flows: A sanctions-monitoring NGO says EU countries paid about €5.96bn for Russia’s Yamal LNG in H1 2026, with most cargoes landing in France, Belgium and Spain ahead of the 2027 import ban. Data Centres vs Grid: Reporting from Poland highlights soaring electricity demand from AI and data centres, raising the question of whether new renewables and storage will keep up.