With a lot of information to process in a short time, many market watchers said that the moves were extreme — in both directions.

South Korea’s Sinokor controls about half the tanker transits through the Strait of Hormuz, benefiting from a big bet just before the war in Iran started.

That was almost three times as much as what businesses producing and refining oil in the United States made in the same period in 2025.

© The New York Times