Oil Hits $90, Indonesia Market Faces Pressure Today
- 20 Jul 2026 10:27 WIB
- Voice of Indonesia
RRI.CO.ID, Jakarta - Global oil prices are climbing again. Brent crude oil is now trading around $90 per barrel, up about 5.8% from last week.
The rise was mainly driven by growing geopolitical tension in the Middle East. Higher oil prices often raise concerns about global inflation.
Indonesia's financial market may face more pressure today. Even though the Jakarta Composite Index, or IHSG, opened slightly higher, the market remains vulnerable to a correction.
Most Asian stock markets were mixed, with a weaker overall trend. Investors are watching the risk of higher inflation and tighter monetary policies.
The Indonesian rupiah fell to around 17,980 per US dollar, moving closer to the 18,000 level. This happened despite foreign investors buying Indonesian government bonds last week.
Today, the rupiah is expected to trade between 17,930 and 18,030 per US dollar. Meanwhile, the IHSG may move in the 6,100 to 6,200 range as global market sentiment remains the main driver.
China's central bank kept its key lending rate unchanged at 3%, which did not surprise investors. At the same time, gold prices rebounded to around $4,006 per troy ounce, staying above the important $4,000 level.
Writer: Gunawan Benjamin (Eonomist, Islamic University of North Sumatra)
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