RRI.CO.ID, Jakarta - Global crude oil prices fell to around US$87 per barrel, down from US$100 at the end of last week. The decline came after tensions between Iran and the United States eased.

Lower oil prices may ease inflationary pressure in the short term. However, this depends on whether the situation in the Middle East remains stable.

Most Asian stock markets traded lower in the morning session. Indonesia's Composite Stock Price Index (IHSG) also opened lower at 6,175, although it later showed signs of recovery as investors awaited corporate earnings reports.

Meanwhile, the Indonesian rupiah weakened to around Rp18,070 per US dollar on Tuesday, 28 July 2026. Following the resignation of Bank Indonesia Governor Perry Warjiyo, the rupiah is expected to remain under pressure and could approach its record low of around Rp18,150 per US dollar.

Financial markets are now closely monitoring Bank Indonesia's next policy decision. Investors are also paying attention to the central bank's independence, which is considered important for maintaining market confidence.

The leadership change at Bank Indonesia is expected to become a major focus for investors. In the coming week, market sentiment will also be influenced by U.S. economic data and global political developments.

Gold prices also moved lower to around US$4,048 per troy ounce. Although easing geopolitical tensions have reduced demand for gold, both the rupiah and Indonesia's stock market are still expected to remain volatile.

Writer: Gunawan Benjamin (Economist, Islamic University of North Sumatra)