The barrel above 100 dollars supports oil prices. Eni and Saipem lively in Milan

(Il Sole 24 Ore Radiocor) - Oil above 100 dollars a barrel continues to support the stocks of companies in the energy sector on the stock market, despite fears of possible disruptions in the Middle East due to the war in Iran. On the macro front, Intermonte analysts note, "a prolonged level of oil prices above $100 a barrel would have major negative consequences on inflation". The experts point out that "energy accounts for about 10% of the European consumer price index basket and a 10% rise in oil prices translates into about 0.1 to 0.3 percentage points of additional inflation in Europe".

The impacts, moreover, "would be even greater in Italia, which imports over 70% of its energy needs, with an impact of a 10% price rise of about 0.3-0.5 points on inflation". As for the implications on listed companies on the other hand, according to Mediobanca's experts the current dynamics in the Middle East "will probably continue to support crude oil prices and refining margins". A scenario from which Spain's Repsol (-0.19% in Madrid), which will benefit from 'sustained refining margins given its substantial downstream exposure', is bound to benefit.

"Considering its exposure to oil prices, Eni is another company that will benefit from the current surge" of the barrel, add from Piazzetta Cuccia: at Piazza Affari, the six-legged dog's stock is up 0.49%. Tenaris (-0.49%) will also benefit from the situation, according to Mediobanca, "considering the exposure to short-cycle shale in the United States, where investment plans can be adjusted quickly". Saipem (+1.48%), finally, "is likely to benefit from the long-term impacts of the current crisis, even if in the short term concerns about the concentration of the order book in the Gulf (over 40%) could be a predominant factor".