Global Oil Prices Surge Again, Brent Breaks Through US$106
Jakarta - Global oil prices surged sharply again during Friday morning’s trading, as the global energy market faces supply disruptions.
The narrow waterway known as the Strait of Hormuz, a vital artery for world oil shipments, is once more filled with tension after Iran seized a cargo ship and the United States tightened its maritime operations.
Based on Refinitiv data on Friday (24/4/2026) at 08.05 WIB, Brent was at US$106.97 per barrel, up 1.81% from the previous close. Meanwhile, West Texas Intermediate (WTI) rose to US$97.50 per barrel, an increase of 1.72%.
This rise extends the oil rally over the past week. Compared to 17 April, Brent has soared from US$90.38 to US$106.97 per barrel. Over seven trading days, the jump exceeds 18%. WTI has even climbed from US$83.85 to US$97.50 per barrel, or around 16%.
The Strait of Hormuz is a critical route through which about one-fifth of global oil and LNG trade typically passes. When ships start being detained, tanker traffic shrinks, and passage permits are contested by two military powers, traders quickly add a risk premium to oil prices.
On Thursday local time, Iran broadcast video of commando forces boarding the giant cargo ship MSC Francesca using speedboats. Tehran claimed two ships were captured for attempting to cross the strait without permission. The message is clear: Iran wants to demonstrate that it can still disrupt one of the world’s most important energy routes.
On the other hand, US President Donald Trump stated that Washington has “total control” over the strait. He even ordered the Navy to act against Iranian ships planting mines and to accelerate sea route clearance operations. The US is also said to have diverted 33 ships since the blockade began, and boarded another tanker in the Indian Ocean.
The market now sees two blockades running simultaneously. Iran demands passage permits from its side, while the US monitors ship flows and pressures Iranian shipping. In such conditions, even a single delivery delay could push up logistics costs, insurance premiums, and energy prices.
From a geopolitical perspective, the threats have not subsided. Israel stated it is ready to strike Iran again if it receives the green light from Washington. That statement reminds the market that the current ceasefire is fragile, thin, and could break at any time.