The price of oil in the world has surged again and successfully breached US$100 per barrel amid rising geopolitical tensions in the Middle East.
The conflict between Iran, Israel, and the United States has sparked significant concerns in the global energy market.
One of the main factors behind the market panic is the potential disruption of supply in the world's vital energy route, namely the Strait of Hormuz. About 20% of the world's oil supply typically passes through this route every day.
If this route is disrupted, the impact could be very substantial on the global energy market.
The spike in oil prices could potentially trigger:
• Increases in fuel prices in various countries
• Global inflationary pressure
• Heavier economic burdens for energy-importing countries
Energy companies like Pertamina also face significant challenges in maintaining the stability of domestic energy supply.
Is this spike in oil prices just a temporary reaction from the market?
Or is it the beginning of a new global energy crisis?
Write your opinion in the comment column 👇
Disclaimer: This post is intended for educational purposes only, not as an invitation to buy or sell investment assets.