Eni Group: The market has underestimated the impact of the Iran war on energy prices

The group has raised its forecast for Brent crude oil prices in 2026 from $70 per barrel to $83 per barrel. Eni has also upgraded its forecast for Dutch TTF natural gas prices from €36 per megawatt-hour to €50 per megawatt-hour. Previously, the company reported an adjusted net profit of €1.3 billion ($1.5 billion) for the first quarter, down from €1.4 billion in the same period last year and also below analysts' general expectation of €1.5 billion.