Oil stocks in the limelight with oil above 100 dollars

(Il Sole 24 Ore Radiocor)- The return of the price of oil above 100 dollars a barrel supports energy stocks in Piazza Affari. On the main basket, purchases thus reward Tenaris , Saipem and Eni , while traders are wondering about geopolitical developments in the Middle East after US President Donald Trump announced ablockade of Iranian ports in response to Tehran's desire to control traffic in the Strait of Hormuz. A move that risks provoking further escalation: the Iranian military has in fact already called the decision 'an example of piracy' and promised that 'if the security of the Islamic Republic's ports in the Persian Gulf and Arabian Sea is threatened, no port in the Persian Gulf and Arabian Sea will be safe'. The US blockade, explain analysts atEquita, "does not formally restrict transit to non-Iranian ports, but represents a further escalation with direct impact on regional flows and energy logistics". "The scenario," the experts add, "remains volatile for oil and gas, with prices supported by physical disruption and increasing logistical complexity (Hormuz, risks on Bab el-Mandeb, rising insurance premiums).

At the same time, the blockade also appears as a negotiating lever: a reopening of talks could quickly reverse part of the movement, compressing the recent price spike". Equita thus confirms its positive view on Eni, given the "direct benefits from rising hydrocarbon prices with positive revision of estimates in the short term".

Wti and Brent are steadily travelling above USD 100 per barrel.