World Oil Prices Predicted to Hit US$90 per Barrel Next Week
West Texas Intermediate (WTI) crude oil prices are predicted to experience a significant increase over the coming week. Economist, currency, and commodity observer Ibrahim Assuaibi projects WTI crude will be traded in the range of US$74.30 to US$91.60 per barrel.
“So there is a strong possibility that WTI crude oil prices will return to above US$90 per barrel,” Ibrahim said in his statement on Sunday (16/8/2026).
Ibrahim explained that the main fundamental factor driving this price increase is the geopolitical situation heating up again in various parts of the world. One of the primary triggers is the tension between the United States (US) and Iran.
US President Donald Trump recently claimed victory in the Middle East conflict with Iran, which resulted in the claim of the Strait of Hormuz as United States territory. On the other hand, Iran is urging the US to acknowledge defeat, thus triggering new tensions in this vital oil trade route.
Additionally, Trump in his speech warned the American people to prepare for a fairly high increase in fuel prices. “This means that America is actually waiting for the budget to be approved by Congress in preparation for a major attack on Iranian territory,” Ibrahim added.
The situation is exacerbated by the actions of the Houthi group in Yemen, which carried out attacks on Saudi Arabian oil tankers in the Red Sea. This condition creates supply uncertainty on international shipping routes.
In Africa, geopolitical tensions have also increased after rebels in Nigeria carried out attacks on several oil refineries. Meanwhile, in Europe, the unresolved conflict between Russia and Ukraine continues to put pressure on global energy markets.
“This is what makes geopolitical tensions likely to heat up again. For example, as I said earlier, crude oil prices will most likely reach US$91.60 per barrel. That is the highest price,” he explained.
Ibrahim also highlighted the target in the 2027 State Budget (APBN) delivered by President Prabowo Subianto, that the Indonesian Crude Price (ICP) is set at US$75 per barrel. However, with the existing conflict escalation, he doubts the price will remain at that level in the long term.
“Iran is ready to carry out a long-term attack against America. What does that mean? In 2027, WTI crude oil prices will most likely still be above US$80 per barrel because of the war, especially in the Red Sea and the Strait of Hormuz,” Ibrahim concluded.