Jakarta Expects Israel-Hamas Conflict to Affect Oil Prices

The government is anticipating the impacts of ongoing conflicts to spill over to surrounding countries despite Brent crude oil prices remaining around $89 per barrel.

Tim Redaksi

25 Okt 2023 - 21.58
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Jakarta Expects Israel-Hamas Conflict to Affect Oil Prices

Illustration - Crude oil tanker

Bisnis, JAKARTA — The movement of global crude oil prices, projected to heat up amid geopolitical conditions stemming from the Russia-Ukraine war and the Israel-Hamas conflict, is starting to raise concern for the government.

Global crude oil prices could soar to the highest level of US$150 per barrel if the conflict between Israel and the Hamas militant group spreads to other Middle Eastern countries such as Lebanon, Syria, and Iran.

“If it spreads to Lebanon, Syria, or, for example, Iran, it will further complicate the economic problems for all countries because oil prices will rise,” said President Joko Widodo during the opening of the Investor's Daily Summit 2023 broadcast on the Presidential Secretariat’s YouTube channel on Tuesday (10/24/2023).

The Head of State said the government is anticipating the impacts of the wars that may spill over into several other countries in the region, despite Brent crude oil price remaining around $89 per barrel.

Cek Berita dan Artikel yang lain di Google News dan WA Channel
Editor: Yusuf Waluyo Jati
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Jakarta Expects Israel-Hamas Conflict to Affect Oil Prices

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