The average price of Indonesian Crude Oil (Indonesian Crude\nPrice\/ICP) in March 2026 surged to 102.26 USD per barrel. This figure\nrepresents the highest price throughout 2026.<\/p>\n
The determination of the ICP is outlined in the Ministerial Decree of\nthe Minister of Energy and Mineral Resources Number\n149.K\/MG.03\/MEM.M\/2026. The sharp rise occurred compared to February\n2026, which stood at 68.79 USD per barrel.<\/p>\n
\u201cThe average ICP for March 2026 experienced a significant increase of\n33.47 USD per barrel compared to February 2026, from 68.79 USD per\nbarrel to 102.26 USD per barrel. This rise aligns with the trend of\nmajor global crude oil prices, which also saw a sharp increase,\u201d stated\nthe Director General of Oil and Gas at the Ministry of Energy and\nMineral Resources, Laode, in his remarks in Jakarta on Friday\n(17\/4\/2026).<\/p>\n
Laode explained that the price surge is inseparable from the\nintensifying global geopolitical dynamics throughout March 2026.\nTensions involving the United States, Israel, and Iran directly impacted\nthe world\u2019s energy supply.<\/p>\n
Energy distribution disruptions became one of the main triggers.\nShipping through the Strait of Hormuz, which has supported around 20\npercent of the world\u2019s oil supply, was temporarily halted, sparking\nmarket concerns.<\/p>\n
Attacks on energy facilities in the Middle East region further\nworsened the supply situation. Several producer countries experienced\noperational disruptions that affected global energy production and\ndistribution.<\/p>\n
\u201cThe heated geopolitical situation has caused uncertainty in global\nsupply, ultimately driving a significant rise in crude oil prices,\u201d said\nLaode.<\/p>\n
Disruptions also occurred in LNG production in Qatar, operations at\noil refineries in Saudi Arabia, and reduced production in Kuwait and\nIraq. Several strategic facilities, including the Basrah port in Iraq\nand energy terminals in the United Arab Emirates, were reported to have\ntemporarily halted operations.<\/p>\n
Threats of closing the Strait of Hormuz, attacks on tanker ships, and\nthe potential expansion of conflict in the Gulf region strengthened the\nbullish sentiment in the international market. This situation kept the\nenergy market under high pressure throughout March.<\/p>\n
The government continues to monitor developments in global oil prices\nto maintain domestic energy supply stability. Mitigation steps are being\nprepared to respond to rapidly moving global dynamics.<\/p>\n
In detail, the development of average major crude oil prices in March\n2026 compared to February 2026 is as follows:<\/p>\n
The average ICP for Indonesian crude oil rose by 33.47 USD per barrel\nfrom 68.79 USD per barrel to 102.26 USD per barrel.<\/p>\n
The Brent (ICE) price increased by 30.23 USD per barrel from 69.37\nUSD per barrel to 99.60 USD per barrel. WTI (Nymex) rose by 26.47 USD\nper barrel from 64.52 USD per barrel to 91.00 USD per barrel.<\/p>\n
Dated Brent experienced an increase of 32.73 USD per barrel from\n71.15 USD per barrel to 103.89 USD per barrel. Meanwhile, the OPEC\nBasket rose by 48.13 USD per barrel from 67.90 USD per barrel to 116.03\nUSD per barrel (as of 30 March 2026).<\/p>\n
This increase indicates that price pressures are occurring evenly\nacross the global oil market. The government is preparing anticipatory\nmeasures to ensure national energy resilience remains intact.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/icp-march-surges-to-102-usd-per-barrel-highest-this-year-1776441057", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }