Jakarta\u2014Indonesia\u2019s National Economic Council (DEN) is ensuring\ncontinued monitoring of the impact of the intensifying Middle East\nconflict on domestic energy prices and supply, particularly regarding\ncrude oil.<\/p>\n
DEN member Septian Hario Seto stated that the government will monitor\ndevelopments in the Middle East over the coming week to assess the\nextent of escalation between the United States-Israel and Iran.<\/p>\n
Currently, Brent crude futures are trading at $78.57 per barrel,\nhaving touched $82.37 per barrel earlier in the day. This figure\nsignificantly exceeds the 2026 state budget assumption, where Indonesian\ncrude oil (ICP) was set at $70 per barrel.<\/p>\n
According to Seto, if there is no further war escalation, the impact\nof the conflict would not be severely damaging, despite crude oil prices\nhaving already risen. He noted that every crude oil-importing nation\nwill feel the effects of war escalation, particularly if the Strait of\nHormuz is closed for an extended period.<\/p>\n
\u201cIn general, I believe the impact will be seen through energy prices.\nThis may affect the conditions of many countries, especially those\nimporting crude oil,\u201d he said.<\/p>\n
Indonesia is among the countries that significantly import crude oil.\nSeto stated that the government has essentially begun reducing its\ndependence on energy imports through biodiesel development strategies\nthat optimise domestic natural resources as fuel.<\/p>\n
\u201cIf we look at the President\u2019s strategy, from the outset we have\nattempted to reduce import dependence. One example is biodiesel policy\nand related measures. I believe this is already one mitigation step. We\nare trying to reduce our oil dependence,\u201d Seto concluded.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/national-economic-council-monitors-impact-of-middle-east-conflict-on-indonesias-energy-supply-1772452876", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }