Traders called the Israel-Iran war right and bet oil would fall

News Snapshot:

Open this photo in gallery: A tug boat tows a barge off the coast of Khasab, Oman, overlooking the Strait of Hormuz on Monday.GIUSEPPE CACACE/AFP/Getty Images The world is full of geopolitical and geoeconomic analysts – add “geo” to your title and you can bill yourself as some sort of expert. The world is full of commodities traders, too, though you don’t hear from them much. But it was they, not the “geo” men and women, who called the Iran-Iraq war right. About 10 days ago, there were legitimate fears that a top-to-bottom regional war was unravelling in the Middle...