Gotrade News - The global energy market enters the second week of the Middle East Gulf conflict with a historic spike in oil prices. Energy exports from the region have ceased amid intensifying battles between Iran, Israel, the United States, and Gulf states. Brent crude prices have surged above $100 per barrel, reflecting the potential for prolonged supply disruptions.
Key Takeaways:
- Oil prices may continue to rise if the conflict persists.
- Export disruptions could pressure the global economy, including Indonesia.
- Energy consumption patterns might need adjustment due to soaring fuel prices.
This surge follows the end of the market's 'grace period' after a relatively moderate first week of conflict. With growing uncertainty about when oil and gas exports will resume normally, traders are preparing for more severe and prolonged supply disruptions.
Normal export capacity, which reaches 20 million barrels per day of crude oil and refined products, is currently delayed. Resolving this requires either the end of the conflict or a total neutralization of Iran's capability to interfere with shipments. Currently, tanker operations are delayed due to threats from Iranian sea mines, speedboats, and drones.
The global economic impact of this conflict is starting to deepen. The average gasoline price in the United States now stands at $3.41 per gallon, and the potential for oil prices to remain above $100 per barrel remains open. Additionally, the conflict rattles the market by shutting down nearly one-fifth of the global crude oil and natural gas supply.
The blockage at the Strait of Hormuz—a crucial route for global energy trade—means countries like Saudi Arabia, the United Arab Emirates, Iraq, and Kuwait have to halt shipments. This situation heightens the economic threat to developing countries and might exacerbate inflation, including in Indonesia.
Reference:
- Bloomberg, Latest Oil Market News and Analysis for March 12. Accessed on March 12, 2026
- Bloomberg, Stocks Drop, Oil Climbs as Iran War Fallout Widens: Markets Wrap. Accessed on March 12, 2026
- Bloomberg, IMF, Pakistan Extend Talks Amid Questions on Iran War Impact. Accessed on March 12, 2026
Featured Image: GPT Image 1.5
