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Story summary
- Brent crude rose to $106 per barrel, reacting to the Iran conflict, lifting stocks 6%.
- Berenberg identifies Repsol S.A. as a beneficiary, while Equinor and Galp Energia attract investors for limited Middle East exposure.
- TotalEnergies posts only slight gains due to Gulf operations.
- Raymond James says the conflict caused a substantial supply shock, with inventories depleting rapidly.
- Raymond James analysts say the market is underreacting, signaling upside for oil-levered equities.
