Oil Traders Rush to Hedge Iran Risk After Wild Start to Year

Photographer: Jorge Guerrero/AFP/Getty Images The oil market is in the middle of its strongest start to a year since 2022 as supply shocks and sanctions confound expectations of a glut. Now traders are racing to cover themselves against the prospect of the US bombing Iran again. Most Read from Bloomberg A surge in activity across futures and options markets is already pulling up crude prices — Brent futures touched a seven-month high of more than $72 a barrel on Friday, and some analysts see a risk prem ...