Gotrade News - Global oil prices soared sharply after US President Donald Trump issued a stern ultimatum to Iran. Trump threatened to attack Iran's power plants if the Strait of Hormuz is not immediately reopened. US crude jumped to USD 114 per barrel, while Brent reached USD 111.43 per barrel.
This threat has escalated concerns over global oil supply. Iran has closed the Strait of Hormuz, a critical passage connecting the Persian Gulf to global markets. This action has caused the largest supply disruption in history.
Oil prices are also driven higher by tensions in the Middle East and disruptions to oil distribution from Russia. The port in Ust-Luga has been attacked, hindering oil exports and reducing Russian production.
OPEC+ has decided to increase production by 206,000 barrels per day starting in May. However, oil distribution remains a significant challenge due to energy infrastructure damage caused by Iranian attacks.
Kuwait Petroleum Corporation reported damage to their facilities due to drone attacks. This damage exacerbates the global oil supply condition.
Meanwhile, the global energy market faces the impact of export restrictions and operational disruptions at major refineries. Diesel shipments from Russia to Primorsk have been halted since the end of March.
According to Rapidan Energy analysis, total oil production losses could reach 630 million barrels by the end of June. This takes into account the rerouting of flows through pipelines and the release of emergency stocks.
With the conflict projected to last until mid-April, the outlook for oil production remains grim. The surge in oil prices is weighing on the global economy and adding to the uncertainty in the energy market.
Meanwhile, OPEC+ continues to face tremendous challenges in mitigating the impact of this crisis. They must navigate logistical difficulties and increase production amid rising geopolitical tensions.
Reference:
- Liputan6, Harga Minyak Melesat Usai Trump Ancam Serang Pembangkit Listrik Iran. Accessed on April 6, 2026
- MetroTV, Harga Minyak Dunia Naik Lagi, Brent Kini Dijual USD110/Barel. Accessed on April 6, 2026
- Sindonews, Harga Minyak Dunia Melonjak 2,2%, Brent Tembus USD111 per Barel. Accessed on April 6, 2026
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