Gotrade News - Global oil prices experienced a significant surge of nearly 4% on Wednesday, March 19, 2026, following escalating tensions between Iran and Israel. These tensions raise concerns over broader energy supply disruptions in the Middle East.
A report from Liputan6 stated that Brent crude prices climbed by 3.83% to USD 107.38 per barrel, while U.S. WTI crude held steady at USD 96.32 per barrel. Further gains occurred after Israel's attack on a major Iranian gas facility in Bushehr Province sparked a new escalation in regional conflict.
Another source, KabarBursa, also confirmed the rise in oil prices driven by Iran's attacks on energy facilities in Saudi Arabia, the UAE, and Qatar. In response, Iran issued warnings to evacuate energy facilities in these countries.
Such attacks and threats from Iran have heightened tensions that could disrupt energy traffic in the Strait of Hormuz. According to Citi predictions, this situation could push Brent crude prices to USD 120 per barrel in the near future.
Federal Reserve Chairman Jerome Powell also highlighted that this surge in oil prices could trigger short-term inflation in the U.S. Investment bank Citi forecasts that oil supply disruptions could reach 16 million barrels per day through April.
Meanwhile, President Donald Trump has issued an emergency policy with an exemption to the Jones Act. This allows foreign vessels to transport oil and energy at U.S. ports, aiming to reduce distribution costs.
SEB analyst Ole Hvalbye noted that the attack on Iran's gas fields has partially halted shipments through the Strait of Hormuz, a vital route for 20% of the global oil and LNG supply.
Current oil production cuts in the Middle East are estimated at 10 million barrels a day, around 10% of global demand. The Trump administration has also temporarily lifted restrictions on summer gasoline emissions, though its impact remains limited.
The U.S. government hopes these measures could slow fuel price increases, although their effect on global prices is still debated by analysts.
Reference:
- Liputan6, Harga Minyak Tembus USD 107, Ancaman Iran ke Arab Saudi hingga Qatar Picu Lonjakan. Accessed on March 19, 2026
- MetroTV, Harga Minyak Lompat Lebih dari 3%, Brent Sentuh USD111/Barel. Accessed on March 19, 2026
- Kabar Bursa, Aksi Iran di Teluk Sukses Ledakkan Harga Minyak ke USD107. Accessed on March 19, 2026
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