Eni is trading 7.1% up at €23.57 as energy stocks rally following a sharp rise in oil prices driven by escalating geopolitical conflict.
- Brent crude prices spiked after U.S.–Saudi strikes on Iran-backed militias and subsequent Iranian missile retaliation, raising significant supply disruption concerns.
- The broader European oil sector is seeing a surge in investor demand, boosting major energy stocks despite a lack of company-specific news for Eni.
- Market sentiment remains focused on the Middle East situation, which has triggered a sector-wide re-rating of oil and gas producers.