Prysmian target lifted as Hormuz tensions disrupt LNG flows - Apr 7, 2026

As of April 7, today’s news features significant developments in energy geopolitics, particularly the escalating conflict involving Iran and its implications for global energy markets, alongside positive financial news for Prysmian. Prysmian has received an upward revision in its target price from Morgan Stanley, raising it from 75 euros to 95 euros while maintaining an equal-weight rating. In the international arena, China's President Xi Jinping has called for accelerated development of a new energy system amidst ongoing conflict in the Middle East, asserting the need for energy security and emphasizing increased focus on hydropower and ecological protection. Analysts suggest that China, which relies heavily on coal (over half of its energy mix), is better positioned to weather rising oil prices due to its substantial oil reserves and limited dependence on oil from the Strait of Hormuz. Meanwhile, tensions in the Middle East have escalated sharply as Iranian Revolutionary Guards halted two Qatari LNG tankers previously cleared to transit the crucial Strait of Hormuz, amidst reported shifts in diplomatic negotiations involving the U.S. Pakistan’s mediation efforts had previously allowed for this transit, but abrupt changes by Iran emphasize the uncertainty impacting global energy supplies. In terms of resource exploration, Eni has announced a significant gas discovery off Egypt’s coast, estimating 2 trillion cubic feet of gas in the Temsah Concession, a development that could enhance Egypt’s gas production capacities. On the global stage, the Kremlin indicated a surge in demand for Russian energy in light of the ongoing crisis, countering the sanctions and embargoes previously placed on Moscow. Russia, the second-largest oil exporter, is exploring new markets as traditional demands shift amidst geopolitical tensions, even as production faces potential reductions due to military conflicts impacting export capabilities. In light of further U.S. military strikes against Iran, the situation remains volatile. The US attacked military targets across Iran’s Kharg Island as President Trump has reiterated threats to engage in a widespread bombing campaign if negotiations fail before a self-imposed deadline, injecting a sense of urgency and uncertainty into energy markets. As the U.S. and Israel continue military actions, oil prices have increased, reflecting market reactions to potential escalations in conflict and their implications for global supply.