Jakarta \u2014 The Indonesia Commodity and Derivatives Exchange (ICDX) has\nforecasted crude oil prices to range between 95-100 US dollars per\nbarrel in 2026.<\/p>\n
\u201cLooking at the current market situation and developments, crude oil\nprices are expected to maintain strong bullish potential through the\nsecond half of this year. Resistance levels are projected at around\n95-100 US dollars per barrel, with support levels around 80-75 US\ndollars per barrel,\u201d stated Girta Putra Yoga, head of research and\ndevelopment at ICDX, in an official statement in Jakarta on Friday.<\/p>\n
He noted that expectations for strengthened global crude oil prices\nhave emerged again at the beginning of 2026.<\/p>\n
The reaffirmation of commitment from the Organization of the\nPetroleum Exporting Countries (OPEC) alliance, stating that it will\nmaintain production through December 2026, has served as a catalyst\ndriving crude oil prices upward.<\/p>\n
Additionally, according to Yoga, geopolitical tensions marking the\nopening of 2026\u2014ranging from the detention of Venezuelan President\nNicolas Maduro by US military forces, US President Donald Trump\u2019s desire\nto acquire Greenland from Denmark, to the commencement of US-Iran\nconflict\u2014have pushed crude oil prices back up to touch 90 US dollars per\nbarrel in early March 2026, compared to 57 US dollars per barrel in\nearly January 2026.<\/p>\n
\u201cThe indicators being monitored will continue to focus on\ndevelopments in the Middle East, particularly the US-Iran conflict,\nOPEC+ production policies, and Trump\u2019s trade tariff policies,\u201d he\nsaid.<\/p>\n
For 2025, he continued, presented a challenging era for the crude oil\ncommodity. The average price of this \u201cblack gold\u201d recorded a decline of\nmore than 21 percent to 60 US dollars per barrel at the end of 2025,\ncompared to the average price at the beginning of the year which reached\n77 US dollars per barrel.<\/p>\n
In the first half, crude oil prices declined by nearly 10 percent,\nwith average prices traded in the region of 69 US dollars per\nbarrel.<\/p>\n
The movement of global crude oil prices was shadowed by the pressure\nof trade war imposed by Trump against China and several of its major\ntrading partners such as Canada and Mexico.<\/p>\n
As a result, according to Yoga, average crude oil prices were\nobserved moving bearish or declining to touch 62 US dollars per barrel\nin May, before subsequently strengthening following the US and China\nagreeing to a 90-day tariff pause.<\/p>\n
Prices were said to continue strengthening through the end of the\nfirst quarter, supported by signals of escalating conflict in the Middle\nEast following Israel\u2019s regime\u2019s launch of the \u201cRising Lion\u201d operation\nagainst Iran.<\/p>\n
However, he revealed that this strengthening trend did not last\nlong.<\/p>\n
Entering the opening of the second half, the threat of higher US\ntariffs, despite negotiations conducted with good faith by several\ncountries, put renewed pressure on crude oil prices.<\/p>\n
\u201cFurthermore, signals from the OPEC+ alliance group to increase\nproduction, and the commencement of the first phase of the Gaza\nceasefire in October caused global crude oil prices to move bearish\nthroughout the second half of 2025. Average prices experienced a decline\nof nearly 13 percent, and were traded in the region of 64 US dollars per\nbarrel,\u201d he stated.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/icdx-forecasts-crude-oil-prices-at-95-100-us-dollars-per-barrel-1773388340", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }