Gotrade News - Global oil prices increased by over 2% on Tuesday, fueled by concerns over the conflict in the Strait of Hormuz. President Donald Trump's inability to form a coalition to escort oil tankers has impacted market sentiment.
This growing uncertainty follows Iran's attack that reduced the movement of vessels through this crucial shipping route. Brent crude prices rose 3.2% to reach USD 103.42 per barrel, while US oil prices increased 2.9% to USD 96.21 per barrel.
Amidst the tension, the US plans to ease sanctions on Venezuela's oil sector. This move aims to boost crude production to counteract soaring prices.
The Trump administration is set to announce this initiative soon, including the issuance of permits for foreign companies in Venezuela. This policy is expected to accelerate the recovery of Venezuela's energy sector.
White House spokesperson Taylor Rogers confirmed that the government will continue to take actions to help Venezuela achieve peace and prosperity.
The Strait of Hormuz, through which approximately 13 million barrels of oil pass daily, remains a vital route for global oil trade. Analysts say the scale of current oil supply disruptions is significant.
The US government is considering naval escorts, but this step could be risky as ships remain vulnerable to attacks. The US may delay this action until the situation becomes safer.
This uncertainty creates dynamics that demand caution from oil investors. Markets are closely watching geopolitical policies that could affect the flow of oil trade.
In the global context, oil prices serve as an important indicator for investment decisions in the energy sector. These developments impact the short- and medium-term outlook of the world oil market.
Reference:
- Liputan6, Harga Minyak Hari Ini Rabu 18 Maret 2026, Melonjak Tajam!. Accessed on March 18, 2026
- MetroTV, menkeu purbaya pastikan harga bbm tidak naik meski minyak dunia bergejolak. Accessed on March 18, 2026
- MetroTV, harga minyak dunia kembali melonjak brent tembus usd102 barel. Accessed on March 18, 2026
Featured Image: GPT Image 1.5
