Oil flies above $ 80 for the first time since 2014: Eni, Saipem and Tenaris run on the stock market
The vaccination campaign advances, the virus draws back, and the restrictions become loose. Economies around the world are preparing to reopen their borders, seeking a phase two of recovery. So that i oil prices they return to a phase of growth, extending their earnings, while the energy crisis which grips a bit everyone shows no signs of easing between the recovery of economic activity and limited supplies from the main producers. In particular, the US oil rises by 1.8% to 80.81 dollars a barrel, the highest since the end of 2014. The Brent growing for five weeks, increases by 1.71% to 83.80 dollars a barrel, while the American crude for seven. The increases are due to the recovery of the major economies, which makes oil increasingly attractive as a fuel for energy production, pushing crude oil markets higher.
In this scenario, the coal and gas prices. In India, some states are experiencing electricity blackouts due to coal shortages, while in China the government has ordered miners to increase coal production due to rising energy prices. Meanwhile, the expectation is growing for the monthly OPEC report that will be published this week: analysts are waiting to know any revisions to the demand.
On the financial front intatno, Eni runs to Piazza Affari, so as to violate the 12 euro threshold upwards with the gain of 1.7%: it was from 26 February 2020, before the outbreak of the pandemic, that the shares of the six-legged dog were not traded at such levels. Both the rise in crude oil and the announcement a few days ago of the listing of the retail and renewable divisions have pushed the prices: the operation should go through next year.
Meanwhile, Equita announced that it had revised upward the estimates on the margins of the group, in order to take into account the rise in gas and crude oil. So the sim, in addition to confirming the ‘Buy’ recommendation, has adjusted the price target to 13.5 euros, up by 4%. The oil sector also runs Tenaris (+ 1.3% to € 9.69) e Saipem (+1,5% a 2,17 euro).