Italy’s Energy Imports Set to Climb to €60 Billion by 2026, UNEM Projects
Italy’s Rising Energy Import Costs and Market Factors
Current and Projected Energy Import Expenditure
ROME, June 10 (Reuters) - Italy will spend almost €60 billion this year to import energy, up €8-9 billion from 2025, the national fuel producers association UNEM said on Wednesday. The estimate is based on the expectation that the Iran war will end in the next few months.
Year-on-Year Comparison
• "Last year we had an energy bill of €48.7 billion, more than 7 billion less than in 2024, but this year our estimate is that it could rise to around €57–58 billion," UNEM president Gianni Murano said at the annual meeting of the association.
Oil Imports and Price Assumptions
• UNEM said Italy's bill for oil imports could reach around €24 billion in 2026, 4.5 billion more than last year, assuming average Brent oil prices of $90 per barrel in 2026.
Geopolitical Factors Impacting Energy Imports
Disruption in Oil Flows
• The closure of the Strait of Hormuz due to the Middle East crisis has sharply disrupted global oil flows, as roughly a fifth of the world's oil passed through the narrow waterway before the US-Israeli strikes on Iran on February 28.
Oil Price Trends and Market Reactions
• Oil prices were steady on Wednesday - with Brent futures at around $91 a barrel and U.S. West Texas Intermediate crude at about $88 at 1020 GMT - as renewed U.S.-Iran hostilities muddied direction, though a forecast U.S. stock draw offered support.
Reporting Credits
(Reporting by Cristina Carlevaro and Francesca Landini, editing by Gavin Jones)
