Jakarta, CNBC Indonesia - Global oil prices weakened slightly on\nFriday morning (24\/7\/2026) after a sharp rally the previous day, yet\nremained elevated and on course for a double-digit weekly gain. The\nmarket is being driven by mounting concerns over global supply\ndisruptions.<\/p>\n
According to Refinitiv data as of 09.15 Western Indonesia Time, Brent\ncrude was at US$100.25 per barrel, down 0.44% from the previous close of\nUS$100.69 per barrel. West Texas Intermediate (WTI) stood at US$91.71\nper barrel, a 0.52% decline from the prior position of US$92.19 per\nbarrel.<\/p>\n
The morning dip followed a surge that saw Brent close above US$100\nper barrel for the first time since May. On a weekly basis, Brent is\nstill up around 13.5%, while WTI has strengthened by approximately\n10.9%.<\/p>\n
The oil rally was triggered by heightened risks to supply from two of\nthe world\u2019s most vital energy shipping lanes. Tensions escalated after\nthe Iran-backed Houthi group claimed to have attacked two Saudi tankers\nin the Red Sea. The assault raised fears that the Bab el-Mandeb strait,\na critical chokepoint connecting the Red Sea to the Indian Ocean, could\nbe disrupted. This waterway is the second most important oil transit\ncorridor globally, after the Strait of Hormuz.<\/p>\n
The situation is further complicated by the Houthis\u2019 earlier\ndeclaration of a naval blockade against Saudi Arabia. This move came as\nSaudi Arabia began diverting oil exports through pipelines in response\nto disruptions in the Strait of Hormuz. US President Donald Trump stated\nthat Iran would be held accountable should further attacks on tankers\noccur.<\/p>\n
Simultaneously, supply from Kazakhstan is under pressure. The\ncountry\u2019s Energy Ministry announced that oil and gas companies had\ntemporarily cut production after a suspected Ukrainian drone attack\nforced a major export terminal on the Black Sea to halt operations. The\ndisruption is linked to the shutdown of the Caspian Pipeline Consortium\n(CPC) facility, a primary export route for Kazakh crude that handles\nroughly 2% of daily global oil supply. Industry sources cited by Reuters\nindicated that one of Kazakhstan\u2019s largest oil fields had slashed\nproduction by more than half.<\/p>\n
The combination of threats to the Bab el-Mandeb, ongoing disturbances\nin the Strait of Hormuz, and reduced supply from Kazakhstan has led\nmarket participants to price a geopolitical risk premium back into\ncrude. As long as uncertainty persists along these major distribution\nroutes, the oil market is expected to remain volatile with a tendency to\nstay at elevated levels.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/middle-east-tensions-keep-oil-prices-above-us-100-1784868702", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }