{
    "success": true,
    "data": {
        "id": 1597646,
        "msgid": "global-oil-prices-breach-111-us-dollars-per-barrel-highest-since-2022-1773034695",
        "date": "2026-03-09 07:11:29",
        "title": "Global Oil Prices Breach 111 US Dollars per Barrel, Highest Since 2022",
        "author": "Lida Puspaningtyas",
        "source": "REPUBLIKA",
        "tags": "",
        "topic": "Finance",
        "summary": "Global oil prices surged approximately 20 per cent in early trading on Monday, reaching their highest levels since July 2022, driven by concerns that the Iran-Israel conflict and US involvement could disrupt critical oil shipments through the Strait of Hormuz. Brent crude briefly spiked to 111.04 US dollars per barrel whilst West Texas Intermediate crude reached 111.24 US dollars per barrel, with escalating military tensions and geopolitical rhetoric raising fears of prolonged energy supply disruptions. The potential for sustained higher fuel prices globally could persist for weeks or months even if the current conflict resolves quickly, as Saudi Arabia's increased Red Sea shipments remain insufficient to offset supply reductions from the affected Strait of Hormuz route.",
        "content": "<p>Global oil prices surged approximately 20 per cent in early trading\non Monday (9 March 2026), reaching their highest levels since July 2022.\nThe sharp increase occurred as markets grew concerned that the\nIran-Israel conflict and United States involvement would have sustained\nimpacts on oil shipments through the Strait of Hormuz, a vital maritime\nroute for global energy trade.<\/p>\n<p>In early trading, Brent crude futures briefly jumped 18.35 US dollars\nor 19.8 per cent to 111.04 US dollars per barrel, and by 23:14 GMT had\nrisen 14.38 US dollars or 15.5 per cent to 107.07 US dollars per\nbarrel.<\/p>\n<p>Meanwhile, United States West Texas Intermediate (WTI) crude rose\n15.27 US dollars or 16.8 per cent to 106.17 US dollars per barrel, after\npreviously surging 20.34 US dollars or 22.4 per cent to 111.24 US\ndollars per barrel.<\/p>\n<p>During the previous week, before the latest surge, Brent prices had\nrisen 27 per cent whilst WTI increased 35.6 per cent.<\/p>\n<p>Israeli military forces stated early Sunday that they had attacked an\nIranian commander in the Lebanese capital, Beirut, expanding military\noperations into the city centre following a series of attacks that had\nkilled nearly 400 people over the preceding days.<\/p>\n<p>Israeli forces also threatened to kill anyone replacing Khamenei.\nMeanwhile, United States President Donald Trump stated that the war\ncould likely end if Iranian military and leadership were completely\nincapacitated.<\/p>\n<p>The conflict risks exposing consumers and businesses worldwide to\nhigher fuel prices over coming weeks to months, even if the week-long\nconflict ends quickly.<\/p>\n<p>Energy supplies are also threatened by facility damage, logistics\ndisruptions, and increased risks for oil tankers. As the world\u2019s largest\noil exporter, Saudi Arabia has increased oil shipments via the Red\nSea.<\/p>\n<p>However, based on shipping data, those volumes remain far short of\nsufficient to replace the supply decline from the Strait of Hormuz\naffected by the crisis.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/global-oil-prices-breach-111-us-dollars-per-barrel-highest-since-2022-1773034695",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}