Traders Pounce on the Cease-Fire, Even as Missiles Keep Flying

For weeks, pressure has built on Wall Street for a postwar rally that no one wanted to miss. Shorts on crude futures and energy stocks piled up. The U.S. and Israeli cease-fire with Iran on Wednesday kicked many of those trades into high gear, even as the outlook for skyscraper-sized tankers of oil and gas transiting one of the world’s key energy chokepoints remains unclear.