Oil markets ‘complacent’ despite growing Hormuz risk

Oil markets are sending the wrong signal by treating the latest attacks on commercial shipping in the Strait of Hormuz as a contained geopolitical incident, rather than a potentially significant threat to energy supplies, the CEO of a leading financial advisory has warned.

Despite reports of Iranian missile strikes on commercial vessels and US counter-strikes in one of the world’s most strategically important shipping lanes, Brent crude remains in the $73-78 a barrel range....