Extreme heat has killed more than 25,000 people across Europe this year, on data compiled from government agencies and research institutions in Germany, Spain, France, the UK, Switzerland and the Netherlands.

Europe's gas tanks are emptier than at any point on record for the time of year, and the cargoes that should be filling them are sailing to Asia instead.

The situation was already severe in July 2025, as high production costs, ageing plants and a surge in global capacity led by China were forcing European producers to shut facilities or reconsider their presence on the continent.

The latest auction for oil and gas leases in the federal waters of the US Gulf of Mexico generated nearly $82.7mn in high bids this week.