Markets may be underestimating the risk, with traders betting on a Hormuz reopening even as physical oil stocks approach critically low levels and tanker traffic remains disrupted.

Global oil inventories are running dangerously low as a deal to re-open tanker traffic through the Strait of Hormuz has proven elusive, and industry executives and analysts warn…

Markets may be underestimating the risk, with traders betting on a Hormuz reopening even as physical oil stocks approach critically low levels and tanker traffic remains disrupted.