Eni Increases Oil Price Forecasts Amid Iran War
The Italian energy group Eni raised its 2026 Brent crude estimate to 83 dollars per barrel while increasing its share buyback plan to 2.8 billion euros. The company warned that the market is currently underestimating the long-term infrastructure damage caused by the ongoing conflict.
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The energy market is significantly underestimating the long-term consequences of the conflict involving Iran on global energy prices, according to leadership at ENI SPA. The Italy-based energy major has sharply revised its price forecasts, raising its 2026 estimate for Brent Crude Oil to $83 per barrel, up from a previous projection of $70. Additionally, the group increased its forecast for Dutch TTF gas prices to 50 euros per megawatt hour.
