OPEC+ statement made no mention of policy beyond September 2026.

Hungary will shut its only nuclear plant, Paks, after Danube water levels fell below the minimum needed to cool its four reactors. One of the two operating units will stop at 01:30 local time on Sunday and the remaining unit later that day. The 44-year-old Paks plant, south of Budapest, will remove more than 40% of the country’s generation capacity and may force Hungary to rely more on costly power imports. Prime Minister magyar said sustained low river levels could keep roughly 2,000 MW of Paks capacity offline for weeks, adding pressure to the power system as Central Europe faces a new heatwave.

Five former Trump administration officials say the White House has few good options after Iran demanded control of the Strait of Hormuz as a condition for ending hostilities. Senior U.S. officials, including Secretary of State Rubio, have warned against any deal that would allow Iran de facto control of the strait, saying it would complicate future U.S. sanctions enforcement by requiring waivers for transit payments and would weaken international pressure on Iran’s nuclear program; Rubio called it a dangerous precedent. Fractured communications among Iranian factions further complicate negotiations. The impasse arrives with U.S. midterms three months away and U.S. retail gasoline averaging $4.10/gal versus $3.85/gal a month ago. Continued concern over U.S. casualties, attacks on U.S. bases and ongoing Iranian missile threats to Gulf states risk further upward pressure on energy prices. There is no sign of an easy post-election exit. Danny Sitrenovitz, a non-resident Atlantic Council fellow, said any diplomatic settlement could require some Iranian control of the strait—politically unacceptable to many—while further military escalation would likely keep oil prices elevated without guaranteeing Iranian strategic change.