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Energy markets grapple with Iran conflict and oil price surge
Iran’s oil revenue is drying up, heightening regional danger and prompting attacks on shipping and Saudi targets. Oil trades around $100 per barrel, with physical prices higher. Demand destruction remains limited despite high diesel costs. Upcoming earnings from SLB (Oct 23), Baker Hughes, Cheniere, ExxonMobil and Chevron (Oct 30) are key market drivers. Goldman Sachs highlights under‑the‑radar energy stocks, noting new CEOs at ConocoPhillips and Occidental and projects like Conoco’s Willow in Alaska and a QatarEnergy gas plant issue.