Traders place $760 million bet on falling oil ahead of Hormuz announcement

Investors placed a bet worth about $760 million ​on a falling oil ​price around 20 minutes before Iran's foreign minister announced ​on Friday that the Strait of Hormuz was open, another sizeable wager on the world's most traded commodity ahead of major announcements in the course of the ‌Middle East ⁠war. Large, ⁠well-timed trades in recent months have drawn concern from U.S. lawmakers and legal ​experts that decisions around war and diplomacy can give some traders an edge ​in volatile and opaque derivatives markets. Between 1224 GMT and 1225 GMT investors sold a combined 7,990 lots of Brent crude futures,...