RRI.CO.ID, Jakarta - Global oil prices rose again following the rhetorical exchanges between US President Donald Trump and Iran. Prices had briefly fallen after Trump announced he would postpone an attack on Iranian energy facilities.

Trump also claimed to have held productive talks with Iran. However, Iran denied the statement, triggering another increase in oil prices.

According to Trading Economics data on Tuesday, March 24, 2026, the price of West Texas Intermediate (WTI) crude oil stood at USD 91 per barrel, up about 2.7 percent on the day. Meanwhile, Brent crude oil was trading at USD 102 per barrel, up 2.5 percent on the day.

Currency and commodities market analyst Ibrahim Assuaibi predicted that oil prices would continue to rise this week. “I see crude oil will likely be traded at the support level of USD 93 per barrel next week. As for the resistance level, it is likely to break through USD 107 per barrel,” Ibrahim said on Tuesday.

He added that Brent crude oil prices are likely to trade between USD 110 and USD 116 per barrel. As Brent crude serves as the benchmark for international oil prices, its surge has been sharp. “Since Iran is one of the producers of Brent crude oil used for jet fuel, the price increase will impact aviation fuel prices, potentially triggering inflation,” Ibrahim said.

Ibrahim also noted the possibility of a permanent rise in oil prices, citing damage to several oil fields in the Gulf region due to the US-Israel conflict with Iran. He added that the continuous rise in oil prices is fueling market concerns about interest rate hikes. As a result, the US dollar is strengthening, while gold prices are likely to decline. (Gusti Panji/Lasti Martina)