Ongoing global energy disruptions, maritime insecurity, and shifting geopolitical alignments are converging to reshape the international landscape. From Europe’s tightening gas markets to tensions in the Strait of Hormuz, and evolving trade dynamics, systemic pressures are building across sectors. These developments collectively point to a period of sustained volatility and structural change. Tighter gas supplies test European Union energy strategy Dan Rocha, Partner, Brussels Europe is entering the 2026 refill season with materially lower gas storage following a colder winter, forcing earlier injections and a higher call on LNG imports, which is already feeding through into tighter balances and upward pressure on energy