Gotrade News - Global crude oil prices have significantly increased at the start of this week. This rise is fueled by escalating tensions between the United States and Iran, further pressuring global energy supplies.
This matters because Brent crude prices soared 2.2% to US$111.43 per barrel. West Texas Intermediate also climbed 2.7% to US$114.57 per barrel.
Uncertainty emerged after U.S. President Donald Trump issued an ultimatum to Tehran, threatening strikes on Iranian infrastructure if the Strait of Hormuz remained blocked.
Iran continues to defy U.S. demands, leaving the Strait of Hormuz closed to most vessels. This exacerbates the already turbulent oil market caused by the ongoing conflict.
The situation is worsened by supply disruptions from Russia, where drone attacks have damaged the export terminals of Ust-Luga and Primorsk, threatening to reduce Russian oil output.
Russian refineries face difficulties exporting diesel fuel, affecting the main route to Primorsk since March 22. This has driven oil prices up on the international market.
Finland's maritime authorities reported a sharp drop in ship shipments from Primorsk and Ust-Luga, further tightening global oil supplies.
In light of this, OPEC+ has warned of the potential long-term impacts on energy supplies due to war-related asset damages.
Ultimately, oil prices remain elevated, fueling inflation pressures and economic losses for both economies and consumers.
Reference:
- Berita Satu, Harga Minyak Mentah Hari Ini Kembali Naik 2,2 Persen Tembus US$ 111. Accessed on April 6, 2026
- Bloomberg Technoz, Awal Pekan Terjadi Kenaikan Harga Minyak, Brent US$110-WTI US$113. Accessed on April 6, 2026
- IDX Channel, Harga Minyak Dunia Melonjak, Pasar Waspadai Eskalasi Konflik Teluk Persia Awal Pekan. Accessed on April 6, 2026
Featured Image: GPT Image 1.5
