{
    "success": true,
    "data": {
        "id": 1580149,
        "msgid": "oil-and-gas-shares-surge-sharply-while-main-index-collapses-why-1772423792",
        "date": "2026-03-02 09:35:39",
        "title": "Oil and Gas Shares Surge Sharply While Main Index Collapses \u2013 Why?",
        "author": "",
        "source": "CNBC",
        "tags": "",
        "topic": "Finance",
        "summary": "Oil and gas sector shares surged significantly on 2 March 2026 despite the Indonesian composite index (IHSG) plummeting over 2%, driven by escalating geopolitical tensions between the United States, Israel and Iran. The conflict, particularly Iran's restriction of traffic through the Strait of Hormuz\u2014a critical route for approximately one-fifth of global oil supplies\u2014triggered investor concerns about energy supply disruptions and pushed crude prices to eight-month highs near US$72 per barrel.",
        "content": "<p>Jakarta \u2013 A series of oil and gas sector shares surged significantly\non Monday amid the Indonesian Composite Index (IHSG) collapsing more\nthan 2%.<\/p>\n<p>At 09:21 Western Indonesia Time, the most pronounced gains occurred\nin PT Elnusa Tbk (ELSA), which jumped 13.53% to 965. PT Energi Mega\nPersada Tbk (ENRG) strengthened 9.66% to 1,930, followed by PT Medco\nEnergi Internasional Tbk (MEDC), which rose 8.99% to 1,880.<\/p>\n<p>Additionally, PT ESSA Industries Indonesia Tbk (ESSA) appreciated\n5.43% to 680, whilst PT Perusahaan Gas Negara Tbk (PGAS) gained 2.51% to\n2,450.<\/p>\n<p>The IHSG opened significantly lower, falling 142.58 points or 1.73%\nto 8,092.90 at market open on Monday 2 March 2026. One minute after\nopening, the index declined further, dropping more than 2%.<\/p>\n<p>Across the broader market, 556 shares fell, 56 rose, and 103 remained\nunchanged. Morning transaction volume reached Rp 708.27 billion,\ninvolving 976.34 million shares in 104,578 transactions.<\/p>\n<p>Heightened military tensions between the United States and Israel\nagainst Iran triggered a shift in global fund flows towards\ncommodity-based assets and safe-haven instruments.<\/p>\n<p>Escalation of the Middle Eastern conflict, including Iran\u2019s move to\nrestrict traffic through the Strait of Hormuz\u2014which handles\napproximately one-fifth of global oil supplies and substantial volumes\nof natural gas\u2014heightened market concerns regarding disruptions to\nglobal energy supply chains and drove increases in several strategic\ncommodity prices.<\/p>\n<p>Brent crude oil prices recently touched US$72 per barrel, approaching\nan eight-month high. The surge followed increased concerns over energy\ndistribution disruptions due to the conflict, particularly given that\nthe Strait of Hormuz represents a vital global oil trading route.<\/p>\n<p>Rising oil prices could serve as a positive catalyst for oil and gas\nstocks, particularly for companies with exposure to production and sales\ntied to global market prices.<\/p>\n<p>As long as energy prices remain elevated, the potential for improved\nrevenues and margins represents a distinct attraction for market\nparticipants.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/oil-and-gas-shares-surge-sharply-while-main-index-collapses-why-1772423792",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}