(The opinions expressed here are those of the authors.)

By Anna Szymanski

July 24 (Reuters) - 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. RED ALERT!

RON BOUSSO, ROI Energy Columnist: Saudi Arabia's Yanbu

export hub on its west coast, which depends on the Bab el-Mandeb

Strait, became the kingdom's primary outlet for crude exports

after the Strait of Hormuz was largely blocked following the

outbreak of war on February 28. But what initially appeared to

be a successful workaround has now become a target after the

Iran-backed Houthi militia declared a blockade against Saudi

vessels ​seeking to pass through the strait.

This could prove to be one crisis too many for today's strained

energy markets.

2. GILT TRIP

MIKE DOLAN, ROI Finance & Markets Columnist: Even though

benchmark 10-year British government borrowing rates remain the

highest of the G7 nations - around 5% - ​they have stayed

relatively calm amid new Prime Minister Andy Burnham's

spectacularly quick ascent.

Sensitivity to some of Burnham's specific plans may have

been curbed by two big potential buffers: moderating inflation

pressures and a drop in UK borrowing due to former Chancellor

Rachel Reeves' adherence to fiscal rules.

Still, gilt market discontent remains a risk if Burnham

fails to boost the Labour Party's election prospects, as that

would increase the likelihood of a victory by the right-wing

Reform UK party - an unpredictable wildcard for most investors.

3. YEN DOOM LOOP

JAMIE MCGEEVER, ROI Markets Columnist: The yen sank to its

lowest level against the dollar in 40 years this week, as the

dollar/yen rate rose above 163.00. While there are many causes

of this - including overall dollar strength and rising crude

prices - Japan also appears to be stuck in a policy "doom loop".

Global investors appear to have taken a ⁠dim view of Japan's

current policy mix: the fiscal stance is too loose, monetary

policy is not tight enough, and as ever with Japan, the coziness

between the two is stoking market concerns about the Bank of

Japan's independence. Options for escaping this predicament are

limited.

4. CRUDE VS FUELS

RON BOUSSO, ROI Energy Columnist: While crude prices may have

garnered all the headlines in recent months, refined products

like gasoline, diesel and jet fuel are coming under far greater

pressure. The global refining sector is being squeezed from many

sides, including the latest disruption in crude deliveries in

the Middle East as well as curtailed refinery operations in

Russia due to Ukrainian drone attacks on energy infrastructure.

Indian refiners are ramping up production, but that may only

help on the margins.

5. WILDFIRES' COLLATERAL DAMAGE

GAVIN MAGUIRE, ROI Global Energy Transition Columnist: More than

70 large wildfires have been burning across the United States,

and they are causing serious problems for the country's power

producers. Smoke is reducing the amount of solar radiation that

hits solar farms, reducing the amount of power generated and

making it harder to predict power flows across transmission

lines. These fires are also causing this disruption when grids

can least afford it - right as heat waves are upping demand.

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.