The war with Iran is creating clear winners and losers across global energy markets, with oil companies posting soaring profits while OPEC+ prepares to raise output again. The Organization of the Petroleum Exporting Countries and its allies may decide Sunday to lift production quotas for a sixth straight month. But analysts say the real problem will be finding ways to export those extra barrels, not producing them. Meanwhile, the threat of escalation is driving gas prices higher and hurting economies worldwide, even as Big Oil sees revenue climb. The volatility has rewarded short-term traders, but buy-and-hold investors are advised to look at longer-term energy themes instead. The war also pushed investors toward fertilizer stocks, though that trade is really three separate trades tied to the Strait of Hormuz. The biggest overlooked risk, according to market watchers, is China's role in the fertilizer supply chain.