RRI.CO.ID, Jakarta - Indonesia’s stock market is expected to face pressure in Thursday’s trading, March 12, 2026, amid rising uncertainty in the global energy market. Fluctuations in global crude oil prices are considered the main factor that could influence trading direction on the Indonesia Stock Exchange (IDX).

At the opening of trading, the Jakarta Composite Index (JCI) recorded a slight increase of 9.45 points, or 0.13 percent, to 7,398.85. The blue-chip index LQ45 also moved positively, rising 1.34 points, or 0.18 percent, to 753.58.

Head of Research at Kiwoom Sekuritas Indonesia, Liza Camelia Suryanata, said the JCI’s room for improvement is limited ahead of the long Eid al-Fitr holiday next week. “The best-case scenario at this time is to trade sideways while maintaining the critical support area of 7,335–7,120 so that it is not breached again,” she said in Jakarta on Wednesday, March 11, 2026, as quoted by Antara.

In the global market, crude oil prices surged despite the International Energy Agency (IEA) releasing 400 million barrels from its emergency reserves, the largest release in history. This volume exceeded the 182 million barrels released during the 2022 energy crisis.

Trading data as of 9:35 a.m. Jakarta Time showed West Texas Intermediate (WTI) crude oil rising 7.95 percent to USD 94.19 per barrel, while Brent crude oil rose 8.01 percent to USD 99.35 per barrel.

The surge in energy prices was also triggered by geopolitical tensions following attacks on ships in the Hormuz Strait, which disrupted global energy distribution channels. Iran warned that oil prices could potentially exceed USD 200 per barrel if the conflict escalates further.

In the United States, the Consumer Price Index (CPI) inflation rose 0.3 percent month-on-month and 2.4 percent year-on-year in February. However, the data did not include the latest increase in energy prices, raising market concerns about the potential for tighter monetary policy.

Domestically, the February 2026 State Budget deficit was recorded at IDR 135.7 trillion (USD 8.02 billion), or 0.53 percent of Gross Domestic Product (GDP). This condition is consistent with the budget design, as government expenditure accelerated throughout the year, while State Revenue continued to grow, and budget financing decreased by 33 percent compared to the previous year.

At the same time, the House of Representatives’ Commission XI elected Friderica Widyasari Dewi as Chair of the Financial Services Authority (OJK) for the 2026–2031 period.

The House also appointed Hermawan Bekti Sasongko, Hasan Fawzi, Dicky Kartikoyono, and Adi Budiarso as members of the Board of Commissioners, with the appointments to be ratified at the House Plenary Session on March 12.

External sentiment was also influenced by global stock market performance on Wednesday, March 11. European stock indices fell across the board, with the Euro Stoxx 50 down 0.70 percent, the UK’s FTSE 100 Index down 0.56 percent, Germany’s DAX down 1.37 percent, and France’s CAC 40 Index down 0.19 percent.

On Wall Street, stock index movements varied. The S&P 500 fell 0.1 percent to 6,775.17, while the Dow Jones Industrial Average weakened 0.6 percent to 47,417.27. The Nasdaq Composite rose 0.1 percent to 22,716.14.

In early Asian trading, most exchanges moved in different directions. Japan’s Nikkei index fell 821.29 points, or 1.49 percent, to 54,204.10. The Shanghai Composite rose 4.20 points, or 0.10 percent, to 4,137.54. The Hang Seng fell 206.50 points, or 0.80 percent, to 25,692.31, while the Straits Times fell 15.33 points, or 0.32 percent, to 4,848.50. ***