US-Iran Tensions Heat Up Again, Global Oil Prices Break Through 95 US Dollars

Crude oil prices surged sharply on Sunday (19/4/2026). The increase was triggered by the escalation of conflict between the United States and Iran following an attack on a commercial vessel in the Strait of Hormuz. According to CNBC, the West Texas Intermediate (WTI) futures contract for May delivery rose about 7 percent to 89.74 US dollars per barrel, or approximately Rp 1.54 million. Brent crude for June delivery climbed 5.8 percent to 95.59 US dollars per barrel, or about Rp 1.64 million. Tensions heightened following military action in the Gulf of Oman. US President Donald Trump stated that the Navy fired upon an Iranian container ship. Marines then seized the vessel. According to Trump, the ship was attempting to bypass the US naval blockade at an Iranian port. This statement was posted on his Truth Social account. Trump issued fresh stern threats, stating he would destroy Iran’s critical infrastructure if no new agreement is reached. The ceasefire agreement between the two countries is set to expire this weekend. Trump described the Iranian attack as a “total violation” of that agreement. Diplomatic efforts have yet to yield results. Plans for follow-up talks in Islamabad, Pakistan, remain uncertain. Trump said discussions would take place on Monday, but Iran refused to attend. Iran’s IRNA news agency reported the refusal was due to the US naval blockade and several other issues. Hopes had briefly emerged last week, with reports that the two countries were nearing an agreement. The situation changed rapidly. Iran continues to impose strict conditions on vessels transiting the area, while the United States refuses to lift the blockade. Tehran then declared that the strait would remain closed as long as the blockade persists. This situation has once again driven up oil prices and increased uncertainty over global energy supplies.