A calmer energy picture is rippling through markets and policy today. In Britain, the Bank of England left rates at 3.75%, reflecting a delicate balance: inflation pressures have eased, helped by softer oil prices, but policymakers remain wary that any renewed energy shock could still push living costs higher. In the U.S., drivers got some relief as average gasoline prices slipped below $4 a gallon for the first time in months, after progress on a U.S.-Iran deal reduced fears of supply disruption through the Strait of Hormuz. Meanwhile, a very different kind of industrial policy jolt lifted Intel shares, after President Trump said the company would build Apple chips in the United States — a potentially important boost for domestic semiconductor manufacturing and Intel’s foundry ambitions. Elsewhere, routine ETF dividend declarations offered a steadier note for income-focused investors.