Eni soars on the stock market: yearly highs driven by geopolitics and new offshore discoveries in Libya.

Stock performance and market records

In today’s session, Eni shares reached their highest levels of the year, strongly confirming the upward trend that has developed in recent weeks. The key figures that capture this rally since the onset of the Middle East crisis are as follows:

1. Change since February 28: +16.83%
2. Price on February 28: €19.65
3. Current price (March 17): €22.96
4. Total monthly return: ~23% (approaching 23 percentage points)
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This outstanding performance places the energy giant among the top performers on Piazza Affari in the early part of March.

The role of crude oil and the geopolitical context

This rally has been primarily driven by the surge in global commodity prices. With Brent crude steadily above $100 per barrel, the group’s operating margins have expanded significantly, attracting strong interest from institutional investors.

Historically, the energy sector tends to outperform during periods of international instability. In this context, Eni shares have provided effective protection for investment portfolios thanks to their direct correlation with oil prices, acting as a true hedge against geopolitical uncertainty.

New discoveries in Libya and energy security

Further boosting the stock in the latest session—closing up +2.72%—was the announcement of two major offshore discoveries in Libya waters. These new fields, with an estimated potential of over 28 billion cubic meters of gas and condensates, represent a crucial component of the group’s strategy.

By strengthening its presence in the Mediterranean, Eni secures essential resources close to European markets, significantly reducing dependence on unstable and risky Middle Eastern routes. The company’s ability to replenish its reserves in well-known geographic areas has been widely rewarded by the market.

Diversification and the integration of Acea Energia

Not just extraction: on the corporate front, an additional boost came from the Antitrust authority’s approval of the acquisition of Acea Energia by Eni Plenitude. This deal accelerates the group’s transformation process, integrating its traditional upstream activities with an increasingly strong presence in retail sales and renewable energy development.

This diversification makes Eni’s business model more resilient, balancing profits from hydrocarbons with steady growth in the energy transition sector.

Outlook ahead of the Capital Markets Day

With these premises, Eni approaches its Capital Markets Day on March 19 with exceptional momentum. The combination of financial strength, strategic discoveries, and expansion in the retail sector places the company in a leading position.

Investors are now looking with optimism at the group’s next industrial moves, confirming Eni as a key asset for Europe’s energy security in a complex and challenging historical phase.