Brent Oil Prices Surge 56.93 Percent in a Month

Global oil prices are predicted to continue surging due to the war between the United States and Israel versus Iran. Citing data from Trading Economics, the Brent crude oil futures contract price reached US$112 per barrel on Sunday, 22 March 2026, marking a 56.93 percent jump in one month.

Meanwhile, the WTI crude oil futures contract price reached US$98 per barrel, an increase of 48.14 percent compared to the previous month. Currency and commodities observer as well as Director of PT Traze Andalan Futures, Ibrahim Assuabi, stated that the WTI crude oil price this week is likely to remain in the support range or lower bound of US$93 per barrel to the resistance or upper bound breaking through US$107 per barrel.

Brent crude oil prices are also predicted to remain high this week. Brent crude oil is likely to be traded in the range of US$110 to 116 per barrel. “So, what is seen as a sharp strengthening is Brent crude oil. Because Iran is one of the crude oil producers for avtur,” he said via an official statement on Sunday, 22 March 2026.

The price increase risks adding to aviation transport costs. It is therefore predicted to also impact inflation.

Ibrahim assessed that the war shows no signs of ending because Israeli and US missiles killed Iranian leaders. On one side, Iranian attacks also targeted US and Israeli facilities in the Middle East. “This is what is causing oil and natural gas prices to rise, which is likely to occur for quite a long time,” he said.

To anticipate the impact of the global oil price surge, the government plans to implement a work-from-home (WFH) scheme. This policy will be applied for 1 day out of 5 working days and will apply to civil servants as well as private employees. The WFH mechanism is hoped to suppress fuel oil (BBM) consumption.