India and the European Union are entering a make-or-break phase in their long-running trade talks, with negotiators in New Delhi this week trying to close the gap on contentious issues before a self-imposed end-of-year deadline. Both sides face external pressure: India is scrambling to diversify trade partnerships after President Donald Trump doubled tariffs on Indian goods last month, while the EU is racing to secure new alliances as it braces for continued U.S. protectionism.

The political backdrop is unusually sharp. Trump’s tariff escalation has already hit Indian exports of textiles, chemicals, and leather, sharpening New Delhi’s urgency to bind itself more tightly to other major markets. For Brussels, Trump’s tariffs on European metals and industrial goods have accelerated its broader shift toward hedging U.S. risk by finalizing pacts with Mexico, Mercosur, and now, potentially, India.

Chinese electrolyser manufacturer Hygreen Energy announced plans to invest 2 billion euros ($2.2 billion) in a green hydrogen plant in Andalusia, a southern region of Spain. This investment is part of a broader series of agreements that include a partnership with Spanish company Coxabengoa to develop and manufacture…

European gas is tiptoeing higher, not breaking out. Front-month Dutch TTF futures nudged up but remain parked around €32/MWh, a level they’ve hugged for most of October. Traders are juggling two opposing forces. On one side, Europe entered winter with comfortable inventories of roughly 83% full, thanks to strong summer injections and a mild shoulder season.

On the other, a lull in LNG arrivals, short-term maintenance curbing Norwegian pipeline flows, and a forecasted dip in temperatures across northwest Europe are testing nerves. The result is a market that grinds rather than surges: every small supply wobble or chilly forecast bumps prices, but the storage cushion and muted industrial demand cap upside.