Hormuz Swings From Reopening to Renewed Risk

Energy markets moved from emergency scarcity toward conditional normalization, but the shift depended on whether Hormuz traffic stayed open. A temporary US-Iran opening lowered oil risk premiums before attacks and routing disputes restored uncertainty.

The week also turned toward a build-heavy power strategy, with US nuclear, storage, solar, and grid investment responding to rising demand. China paired stronger renewable integration with a continued coal role, making its energy transition more mixed than its clean-power expansion alone suggests.