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

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.

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.