Gotrade News - Global oil prices spiked significantly on Wednesday, in light of increasing tensions between Iran and Israel. The surge was triggered by Israel's attack on Iran's gas facility in Bushehr Province.
Brent oil rose 3.83% to USD 107.38 per barrel, while U.S. oil stood at USD 96.32 per barrel. This tension threatens the stability of energy supplies in the Middle East.
Iran has threatened to attack energy facilities in Saudi Arabia, the UAE, and Qatar, escalating the potential disruption to global oil supply.
The warnings include key facilities like the Samref refinery and the petrochemical complex in Al-Jubail. Iran's Revolutionary Guard forces have issued evacuation warnings in the area.
According to Citi, if tensions expand, Brent oil prices could reach USD 120 per barrel. Reduced tanker traffic in the Strait of Hormuz adds to supply concerns.
Meanwhile, the latest Brent oil prices rose to USD 111.07 per barrel. WTI oil also strengthened, marking the widest price differential in 11 years.
In Qatar, strikes on Ras Laffan inflicted significant damage. The UAE halted energy operations in Habshan and Bab due to the incidents.
The U.S. government is considering deploying additional troops to the Middle East. This move aims to secure oil routes in the Strait of Hormuz from further disruptions.
Tensions are expected to keep oil prices elevated. Implications for global inflation and the US economy are a concern, though long-term impacts remain uncertain.
Reference:
- Liputan6, Harga Minyak Tembus USD 107, Ancaman Iran ke Arab Saudi hingga Qatar Picu Lonjakan. Accessed on March 19, 2026
- Berita Satu, Iran Serang Fasilitas Energi, Harga Minyak 19 Maret Naik 3 Persen. Accessed on March 19, 2026
- Berita Satu, Lonjakan Minyak Dunia Dorong Percepatan Implementasi B50 di RI. Accessed on March 19, 2026
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