Barclays: Energy profit expectations are 30% higher than market consensus.

Due to the turmoil in the Middle East pushing up oil and natural gas prices, as well as increasing refining profits and trade returns, the profits of European integrated energy companies are expected to greatly rebound. Barclays Bank stated that the conflict in Iran has tightened the oil market faster than expected, shifting the focus of debate from surplus to potential actual shortages. Against this backdrop, Barclays expects profits in the energy industry in the first quarter to increase by over 40% compared to the previous quarter, making the British bank one of the most optimistic banks in the market for the energy industry. Analysts led by Lydia Rainforth stated, "Our latest expectations for the 26 fiscal year are 30% higher than consensus. The biggest differences are for British Petroleum, with net income expectations 44% higher than consensus, Shell 37% higher, and Equinor from Norway."