Energy Shock Outlook: An analysis warns the US-Iran conflict is turning into a broader energy, logistics, fertilizer, food and financial shock, with global growth risks extending into 2027 and oil systems unlikely to normalize quickly. Trade & Energy Policy: Trump’s latest USMCA comments add uncertainty to North American trade timing, while rising oil prices are also expected to boost biofuel demand—raising food-crisis concerns as fertilizer constraints bite. Biofuels & Fuel Switching: India’s launch of E85 and flex-fuel vehicles highlights how countries are trying to cut crude imports via ethanol blends, a strategy that could ripple into regional feedstock and power demand. Venezuela Energy & Legal/Market Moves: Venezuela’s Shell-linked Loran gas push continues, while a US appeals court upheld a $108M arbitration award against Venezuela—another reminder that energy recovery is tied up with legal and financing risk. Cuba Sanctions Pressure: Cuba again denounces US sanctions on CUPET as worsening daily fuel access and health impacts. El Niño Climate Risk: The UN and WMO flag extreme weather and heat risks tied to El Niño, warning of knock-on effects for agriculture, hydropower and electricity demand. Regional Oil Spill Dispute: Trinidad’s Heritage Petroleum says it found no evidence of a major spill after Venezuela raised alarms, keeping the cross-border blame game active. Critical Minerals: Peru fast-tracks lithium and uranium as strategic minerals, aiming to speed permitting for key projects tied to the energy transition.