Why is the Houthi blockade of the Bab el-Mandeb Strait a critical risk for global energy markets, according to the article?

The article states that Saudi Arabia's Yanbu export hub on its west coast 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; however, the Houthis — an Iran-backed militia — have now declared a blockade against Saudi vessels seeking to pass through the Bab el-Mandeb Strait, turning what was initially a successful workaround into a new target and posing 'one crisis too many for today's strained energy markets.'

What are the two main factors cited in the article that have helped keep UK gilt yields stable despite political change?

According to the article, two big potential buffers have curbed market sensitivity to Prime Minister Andy Burnham's plans: 'moderating inflation pressures' and 'a drop in UK borrowing due to former Chancellor Rachel Reeves' adherence to fiscal rules.'

Financial Week in Five Charts: Houthi Blockades, UK Gilts, Yen Drop, and Wildfires

Jul 24, 2026

Reuters' Open Interest review highlights Houthi threats to Saudi crude exports, UK gilt stability, record-low yen levels, refining sector pressures from geopolitical conflicts, and US wildfires disrupting solar power generation.

reuters

2026-07-24

Financial Week in Five Charts: Houthi Blockades, UK Gilts, Yen Drop, and Wildfires

Financial Week in Five Charts: Houthi Blockades, UK Gilts, Yen Drop, and Wildfires

FAQ