Crude Oil Prices Predicted to Reach US$100 per Barrel
DIRECTOR of PT Traze Andalan Futures Ibrahim Assuaibi has predicted that crude oil prices could reach US$100 per barrel this week. Meanwhile, Brent crude oil prices are predicted to reach US$150 per barrel.
Ibrahim attributed the price increase to Iran’s closure of the Strait of Hormuz. This closure has prompted Middle Eastern nations to reduce their oil production. “Although America itself has already hinted at a strong possibility of lifting the economic sanctions imposed on Iran to restore the flow of crude oil to normal levels,” Ibrahim stated in a statement on Sunday, 8 March 2026.
According to Ibrahim, the rise in crude oil prices will also trigger inflation, particularly in the logistics and transport sectors. He also noted that this condition will impact a rise in global gold prices in the short, medium, and long term.
Ibrahim projects global gold prices could rise to US$5,395 per troy ounce in the coming week. Meanwhile, precious metals prices are predicted to rise to Rp 3,150,000 per gram. “Should global gold prices fall, they would be supported at US$4,959 and precious metals would likely fall to Rp 2,900,000 per gram,” Ibrahim said.
Finance Minister Purbaya Yudhi Sadewa previously stated that the ministry had already calculated scenarios should world oil prices reach US$92 per barrel. He said that if world oil prices remain at US$92 per barrel throughout one year, the 2026 State Budget deficit could exceed 3 per cent.
“We have already modelled that if prices average US$92 per barrel throughout the year, the budget deficit would increase to 3.6 per cent or more,” Purbaya said at the Finance Ministry office in Jakarta on Friday, 6 March 2026. However, he noted that such a deficit expansion would only occur if the government failed to take anticipatory measures. Purbaya stated that the government could still take steps to reduce spending in inefficient budget items.
The state treasurer also noted that Indonesia has previously weathered conditions where world oil prices broke through US$150 per barrel. Purbaya said that although this slowed economic growth, it did not trigger a crisis.