Egypt has secured its largest-ever liquefied natural gas (LNG) import agreements, reaching deals with major global energy firms and trading houses to purchase between 150 and 160 cargoes through 2026. The move underscores Cairo’s urgent need to stabilize power supplies after enduring two years of rolling blackouts, even as the country grapples with a mounting economic crisis.

Once an LNG exporter aiming to supply Europe, Egypt was forced to revert to net importer status in 2023 due to a steep decline in domestic gas production. The new purchases, valued at over $8 billion based on current prices, represent a strategic attempt to meet surging electricity demand during peak seasons — albeit at a heavy cost to an economy already strained by inflation, currency devaluation, and a ballooning fiscal deficit.

European natural gas prices soared on Friday following a series of Israeli airstrikes on Iran, sparking renewed fears of a broader regional conflict that could imperil key global energy routes. The benchmark Dutch front-month gas futures jumped as much as 6.6%, the sharpest increase in more than five weeks, climbing to €38.13 per megawatt-hour by midday in Amsterdam. The surge came amid parallel gains in oil markets, underscoring investor anxiety over a potential supply shock.

The Israeli strikes targeted Iranian nuclear infrastructure and killed senior military officials, in what Tehran has condemned as a major provocation. Iran has vowed retaliation, warning that Israel will “pay a very heavy price,” raising the specter of further instability in the Gulf — a vital artery for global energy flows.

In a bold move to deepen economic and diplomatic influence across Africa, China has pledged to eliminate tariffs on virtually all imports from African nations that maintain formal ties with Beijing. The new initiative, unveiled in a letter from President Xi Jinping to African foreign ministers, offers “zero-tariff treatment for 100% of tariff lines” to 53 African countries. The lone exception is Eswatini, the only country on the continent that continues to recognize Taiwan, which China regards as a breakaway province.

This sweeping trade offer represents a significant escalation of China’s commercial diplomacy on the continent and coincides with growing global trade tensions, particularly those emanating from Washington. As the U.S., under President Donald Trump, ramps up protectionist policies and reshapes traditional trade frameworks, Beijing is seizing the opportunity to project itself as a reliable economic partner for emerging markets.

The sudden military strike by Israel on Iranian targets—focusing on nuclear and military infrastructure—has jolted global energy markets, injecting fresh volatility into an oil sector already weighed down by weak economic signals and oversupply anxieties. Brent crude prices surged over 13% in response to the escalation, reflecting investor fears that a broader regional conflict could destabilize vital energy corridors and infrastructures across the Middle East.

Until now, the oil market narrative had been dominated by talk of sluggish industrial activity in China, muted demand in Europe, and production increases by members of the OPEC+ alliance. These conditions had pointed to a potential supply surplus heading into the second half of 2025. But Israel’s pre-emptive strike on Iran—reportedly aimed at military command structures and nuclear scientists—has radically shifted the outlook.

The European Union continued to expand its trade surplus with the United States in April 2025, defying the latest wave of tariffs imposed by the Trump administration. This increase stands in stark contrast to the EU’s worsening trade performance with China, where exports fell for the ninth consecutive month, according to fresh Eurostat data published Friday.

The bloc’s total surplus in goods trade dropped significantly to €7.4 billion ($8.5 billion) in April, compared to €12.7 billion during the same month in 2024. Despite the overall contraction, the EU’s trade position with the U.S. remains resilient and even strengthened, illustrating how U.S. importers are still absorbing European goods despite rising tariff barriers.

China, the world’s largest buyer of liquefied natural gas (LNG), is now expected to see a decline in its annual LNG imports for the first time since the pandemic year of 2022, according to revised projections. The rare drop reflects a combination of sluggish industrial demand, an oversupplied domestic market, and growing reliance on cheaper piped gas supplies. It also casts a shadow over earlier forecasts that had anticipated record-breaking imports in 2025 on the back of Beijing’s economic stimulus efforts.

Industry consultancies now estimate that China’s LNG imports could fall between 6% and 11% compared to the 76.65 million metric tons it imported in 2024. This retreat in demand from the sector’s largest buyer could release additional LNG supply into the global market, applying downward pressure on Asian spot prices, which have already declined 12% year-to-date.

India has asked state-run miner IREL to suspend a 13-year-old agreement on rare earth exports to Japan and to safeguard supplies for domestic needs, aiming to reduce India’s dependence on China.

IREL also wants to develop India’s capacity for rare earth processing, which is dominated globally by China and has become a weapon in escalating trade wars. China has curbed its rare earth materials exports since April, pressuring automakers and high-tech manufacturers worldwide.

The European Union’s ambition to significantly expand its nuclear energy capacity by 2050 will require an estimated €241 billion ($278 billion) in investment, according to a draft analysis by the European Commission. The Commission is warning that unless new financial tools are introduced to mitigate the inherent risks of nuclear projects, private capital may remain on the sidelines.

According to the draft report—set to be released officially Friday—EU member states plan to increase nuclear generation capacity from today’s 98 gigawatts (GW) to 109 GW by 2050, involving both the construction of new reactors and the life extension of existing ones.