Eni and Mercuria are forming a partnership to trade energy commodities, combining the Italian oil major's upstream capabilities with the Swiss trading house's market expertise.

The move comes as energy traders chase the substantial profits some competitors have captured in volatile commodity markets. Both companies aim to strengthen their position in physical trading and risk management across oil, gas and power markets.

Rivals including Vitol and Trafigura have reported strong earnings from energy trading amid supply disruptions and price swings. This partnership positions Eni to compete more directly for market share in European and global commodity flows.

The collaboration reflects how traditional oil companies are adapting to market volatility by partnering with specialized traders rather than relying solely on internal trading desks.