Europe reopens in the red. The energy shock continues: oil above $100 and Descalzi revives the debate on Russian gas.

Negative opening again for the main European indices in the first session of the week. The failure to reach an agreement between Iran and the United States has once again weighed on market sentiment: investors continue to closely monitor developments in the Middle East, maintaining a cautious and decidedly skeptical stance.

Lower european indices

At the opening of the session, major European stock markets moved into negative territory, confirming a cautious mood among investors. The STOXX 600 fell by 0.69% to 610.62 points, while Germany’s DAX recorded a sharper decline of 0.99% to 23,569 points. The French CAC 40 (-0.95%) and the UK FTSE 100 also weakened, limiting losses to 0.43%. In Milan, the FTSE MIB fell 0.82% to 47,219 points. The overall picture shows a broad-based downtrend across European markets, driven by profit-taking and a cautious stance ahead of new macroeconomic catalysts.

Energy crisis: oil rally returns

Following a breakdown in diplomatic talks between the parties, President Donald Trump allegedly ordered a naval blockade in the Strait of Hormuz, pushing oil back above $100 per barrel. Brent crude oil rose to $101.83 per barrel, up 6.96%, while WTI crude climbed to $103.59 (+7.27%). The move in Natural gas was more contained, at $2.674, up 0.98%. The data highlights a sharp bullish shock in oil, significantly stronger than in natural gas, signaling supply tensions and fears of potential disruptions in global flows.

Descalzi: “We need to unlock Russian gas”

The energy crisis continues to raise global concern. Political leaders and policymakers are seeking rapid solutions to contain, even temporarily, the rise in energy commodity prices. Several proposals remain on the table, often diverging, including that of the CEO of Eni, Claudio Descalzi, who suggested resuming imports of Russian gas starting in 2027 during a speech at the League Training School in Rome.

According to Descalzi, energy policy should focus on diversifying supply sources, creating a unified gas market, and developing infrastructure capable of ensuring surplus supply in case of need. However, the European Union still lacks a structured energy security strategy. For now, most guidance from Brussels focuses on encouraging citizens to reduce consumption.

“Renewable energy remains important, but it must be seen as a complement, not an exclusive solution,” said the Eni CEO.