Rising Oil Prices Pressure Global Markets and Rupiah
- 08 Jul 2026 17:29 WIB
- Voice of Indonesia
RRI.CO.ID, Jakarta - Global crude oil prices have risen sharply this week. The price climbed from $68-$72 to between $72 and $75.9 per barrel.
This increase follows new U.S. airstrikes in Iran near the Strait of Hormuz. These actions show that regional conflict heightens concern.
The Strait of Hormuz is now seen as a risky chokepoint for global trade. This situation creates risks for oil supplies and industrial materials.
Investors are now worried about rising global inflation. This concern is weighing on Asian stock markets.
The Jakarta Composite Index (IHSG) opened lower in early trade at 5,984. It may test the lower psychological level of 5,900.
Meanwhile, the Indonesian Rupiah has weakened against the U.S. Dollar. The exchange rate even briefly touched IDR 18,000 per U.S. Dollar.
Global gold prices are also facing pressure from rising oil prices. However, gold remains relatively steady at around $4,120 per troy ounce.
Writer: Gunawan Benjamin (Economist, Islamic University of North Sumatra)
News Recomendation
Loading latest news.....