TEMPO.CO, Jakarta - The director of PT Traze Andalan Futures, Ibrahim Assuaibi, predicts that the price of crude oil could reach US$100 per barrel this week. Meanwhile, the price of Brent crude oil is predicted to reach US$150 per barrel.
Ibrahim stated that the increase in price is due to the closure of the Strait of Hormuz by Iran. This closure has led to reduced oil production by Middle Eastern countries. "Even though America itself has indicated the possibility of lifting the economic sanctions imposed on Iran to normalize the crude oil flow," said Ibrahim in a statement on Sunday, March 8, 2026.
According to Ibrahim, the increase in crude oil prices will also cause inflation, especially in the logistics and transportation sectors. He also mentioned that this situation will impact the rise of global gold prices in the short, medium, and long term.
Ibrahim projects that the price of global gold could rise to US$5,395 per troy ounce next week. Meanwhile, the price of precious metals is predicted to rise to Rp3,150,000 per gram. "If the price of global gold were to decrease, the second support would be at US$4,959 and the precious metals would likely be at Rp2,900,000 per gram," Ibrahim said.
Indonesian Finance Minister Purbaya Yudhi Sadewa previously stated that the ministry had calculated scenarios if the world oil price reaches US$ 92 per barrel. He mentioned that if the world oil price stays at US$ 92 per barrel throughout the year, then the 2026 State Budget deficit could exceed 3 percent.
"We have exercised for a year if the price is US$92 on average each year, the annual State Budget deficit would be 3.6 percent," said Purbaya at the Ministry of Finance office in Jakarta on Friday, March 6, 2026. However, he stated that the widening deficit would only occur if the government does not take anticipatory steps. Purbaya mentioned that the government still has the opportunity to make savings in inefficient spending categories.
The state treasurer also mentioned that Indonesia had previously experienced a situation where the world oil price exceeded US$150 per barrel. Purbaya stated that although it did slow down the economy, it did not lead to a crisis.
Read: Indonesia Secures Energy Supply Outside Middle East
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