Oil Price Projection for 2026 to Rise, Goldman Sachs Highlights Supply Risks

JAKARTA – Global oil prices strengthened again amid rising geopolitical tensions in the Middle East, sparking market concerns over potential disruptions to the global energy supply.

The surge in energy commodity prices also pressured financial market sentiment, including weakness in US stock futures contracts and increased volatility across various world exchanges.

Market movements occurred alongside heightened risks of conflict between the US and Iran, which could impact oil distribution through strategic shipping routes in the Persian Gulf region.

Quoted from CNN on Monday (23/3/2026), in early trading on Sunday (22/3/2026) local time, the global benchmark Brent crude price was reported to have risen about 1.7 percent to above $114 per barrel.

Meanwhile, US West Texas Intermediate (WTI) crude increased by around 2 percent, holding above $100 per barrel.

This rise occurred amid growing market concerns over potential energy distribution disruptions, particularly through the Strait of Hormuz, a vital route for world oil trade.

On the other hand, major US stock index futures contracts faced pressure.

Dow futures were reported to have fallen about 0.6 percent, or more than 200 points, while S&P 500 and Nasdaq futures weakened by around 0.6 percent to 0.8 percent respectively.

These movements reflect growing investor concerns over the impact of rising energy prices on inflation and global economic growth.

Head of petroleum analysis at GasBuddy, Patrick De Haan, said that consumer-level fuel price adjustments are likely to occur gradually as long as the conflict persists.

“The process will proceed very slowly as long as this drags on,” he stated.

Throughout trading, oil prices moved fluctuatively in line with developments in the geopolitical situation.