Energy fears mount as Descalzi sounds alarm and Prysmian draws upgrades - Apr 13, 2026

As of April 13, today’s news highlights shifts in energy markets and ongoing geopolitical tensions in the Gulf region while Prysmian garners attention with an upgraded target price. Prysmian has been highlighted today as Barclays raised its target price for the company from 112 euros to 119 euros. Turning to market updates, significant developments have emerged regarding Eni. CEO Claudio Descalzi urged the European Union to reconsider its plans for a ban on Russian liquefied natural gas imports due to the unprecedented impact of the Iran war on energy supplies. He highlighted the potential difficulty in replacing the approximately 20 billion cubic meters of LNG that Europe would lose, a concern amplified by the current blockades in the Strait of Hormuz. Descalzi remarked on the need for Europe to enhance its domestic fuel production and improve refining capacities, as logistical challenges are emerging following the recent closure of several refineries. On a related note, aluminium prices reached a four-year high as fears of supply disruptions from Iran intensified. The U.S. military's blockade of Iranian ports is expected to further tighten supply lines impacting global markets. The price of three-month aluminium surged to 3,558 dollars per metric ton following this announcement, reflecting concerns over supply from a region that has become increasingly unstable. In broader economic scenarios, Morgan Stanley reported that strong earnings are helping shield the S&P 500 from deeper losses amid the crisis in Iran, though the report noted growing concerns for numerous stocks across the Russell 3000 index, which have seen significant declines. Meanwhile, political dynamics are shifting in Europe, particularly with the election of Peter Magyar in Hungary, who seeks to steer the nation away from Viktor Orban's policies. Although this change may lead to a more favorable approach towards Ukraine in EU discussions, Magyar’s stance towards Ukraine remains cautious, leaving many uncertainties regarding post-election reforms. In the gas markets, prices in both Dutch and British markets rose sharply as the U.S.-Iran negotiations failed, contributing to an already tense supply environment. The benchmark Dutch contract jumped by 8.8% following the announcement of the impending blockade on maritime traffic in the region. From the international front, TotalEnergies continues to explore opportunities in Turkey's Black Sea, possibly responding to the shifting energy landscape as European nations seek alternatives amidst disruptions from both Russian and Iranian sources.