ROI-Hormuz gridlock, Canada clash and Nvidia nerves: The financial week in five charts

Every Friday, Reuters Open Interest (ROI) distills the financial week into five key charts, ​spotlighting the major trends, surprises and overlooked moves that defined the past ​five days.

1. HORMUZ HOSTAGE RON BOUSSO, ROI Energy Columnist: ‌Gulf ​oil exports through the Strait of Hormuz remain constrained six months into the Iran war, underlining the risks surrounding one of the world's most critical energy chokepoints. Oil prices initially eased this week after Washington's "economic D-Day" sanctions ‌proved less disruptive than feared, and Oman-Iran negotiations raised hopes of a temporary shipping arrangement. Yet the conflict is hardening into a stalemate that could last well into 2027, with energy markets held hostage, inflation elevated and neither side willing—or able—to back down. 2. TRADE WAR REDUX JAMIE MCGEEVER, ROI Markets Columnist: The U.S.-Canada trade spat ‌has flared up again, highlighting how President Donald Trump's tariffs are reshaping America's relationships with its key trading partners. Washington slapped 50% tariffs ‌on an array of imports from its northern neighbor and second-largest trading partner. It also threatened to do the same on autos. Ottawa vowed to retaliate “dollar for dollar”. If the dispute escalates, the impact could be felt well beyond the two countries’ borders.

3. NVIDIA'S HIGH BAR ANNA SZYMANSKI, ROI Editor-in-Charge: Nvidia delivered strong second-quarter results this week, lifting its share price. The chip giant ⁠forecast a ​70% jump in revenue next fiscal year, ⁠indicating that the AI boom isn't slowing anytime soon. But the stock's annual performance remains underwhelming, highlighting how much of the chipmaker's explosive growth is already priced in. 4. FED'S NEW OLD ⁠DEBATE MIKE DOLAN, ROI Finance & Markets Columnist: As central bankers meet in Wyoming for the annual Jackson Hole summit, many questions are being raised about the reforms that new ​Federal Reserve Chair Kevin Warsh may seek to make. He has urged the reintroduction of money-supply aggregates into the central bank's policy analysis, reopening ⁠a long-dormant debate over monetarism versus inflation targeting. But given that money-supply growth is running in excess of 5% annually, that would be an odd battle for Warsh to wage if ⁠he ​is keen to ease monetary policy. While there is some merit in the arguments for considering money supply, doing so would highlight an inconvenient truth for Fed doves: credit and financial asset metrics show the loosest financial conditions in four years.

5. A PRICIER FUTURE GAVIN MAGUIRE, ROI Global Energy Transition ⁠Columnist: Europe's diesel forward curve signals that traders expect fuel prices to remain elevated through 2027. With confusion still reigning over the fate of energy production ⁠and flows from the Middle ⁠East and Russia, traders are bracing for a future in which geopolitical tensions remain high, supply chains remain vulnerable and key fuel products remain in short supply. Opinions expressed are those of the authors. They do not reflect the views ‌of Reuters News, which, ‌under the Trust Principles, is committed to integrity, independence, and freedom from ​bias.

(By Anna Szymanski Editing by Marguerita Choy)