RRI.CO.ID, Jakarta - Oil prices rose further during the morning trading session on Thursday, 9 July 2026. WTI crude was near $74 per barrel, while Brent crude stood at $78 per barrel.
Oil prices rose after Iran launched attacks on several US military bases in the Middle East. Investors remain concerned that the conflict could disrupt global energy supplies.
Most Asian stock markets remained in positive territory during the morning session. However, Indonesia's stock market opened lower, with the Jakarta Composite Index (JCI) falling to 5,865.
The JCI extended yesterday's losses and may face selling pressure today. Weakness in the Indonesian rupiah continues to weigh on investor confidence.
The rupiah weakened to around 18,070 per US dollar in morning trading. The currency came under pressure after the latest FOMC meeting minutes indicated that the US Federal Reserve will remain cautious because of inflation risks.
Higher oil prices have also reduced expectations for looser monetary policy. As a result, the US dollar remained strong against many global currencies, including the rupiah.
Rising geopolitical tensions have increased uncertainty in global financial markets. Investors are also worried that shipping through the Strait of Hormuz could face disruptions, leading to higher transportation costs and higher input costs.
Despite the growing geopolitical risks, gold prices slipped to around $4,079 per troy ounce, or about 2.38 million rupiah per gram. Market participants continue to monitor developments in the Middle East, energy prices, and central bank policy for the next move in global markets.
Writer: Gunawan Benjamin (Economist, Islamic University of North Sumatra)
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