Oil
Indonesian crude price jumps to 112.81 dollars in September
Rising geopolitical tensions in the Middle East and global supply concerns pushed the Indonesian Crude Price up significantly in September 2026.
Key points
- The average Indonesian Crude Price reached 112.81 US dollars per barrel for September 2026.
- The figure represents an increase of 23.38 US dollars compared to the previous month.
- Officials attribute the surge to Middle East conflicts and potential supply disruptions.
What happened
According to VOI.ID, Indonesia's Ministry of Energy and Mineral Resources established the average Indonesian Crude Price (ICP) at 112.81 US dollars per barrel for September 2026. This represents a substantial rise from the 89.43 US dollars per barrel recorded in August 2026, formalized under a ministerial decree issued by the department.
Laode Sulaeman, Director General of Oil and Gas, stated that the jump mirrors broader international market shifts driven by geopolitical instability. Escalating military tensions involving the United States and Iran have heightened risks surrounding maritime transit in the Strait of Hormuz, alongside infrastructure attacks that temporarily affected regional pipelines and export routes.
Why it matters
Global benchmarks also experienced upward pressure during the month. Intercontinental Exchange Brent crude climbed to 102.02 US dollars per barrel, while New York Mercantile Exchange West Texas Intermediate reached 95.69 US dollars per barrel. Dated Brent and the OPEC basket saw similarly sharp increases.
For energy producers and state financial planners, the ICP serves as a critical baseline for calculating upstream revenue and structuring national budgets. Sustained high pricing levels impact state finances and necessitate close observation of global supply dynamics by regulatory authorities.
What comes next
Authorities project that the ICP will remain elevated heading into October 2026, potentially easing into a range between 98 and 103 US dollars per barrel. The government intends to maintain regular oversight of international market movements to protect domestic energy security and ensure transparency within the pricing framework.
Original reporting
This article draws on the following reports. Read them in full on the publishers’ sites.
Context from CEII
Crude benchmarks move budgets, currencies and inflation in producer and importer countries alike. For economies such as Nigeria, where fuels dominate exports, production and refining decisions move the whole economy.
9.5% of world merchandise exports were fuels in 2025Written by the CEII Desk, the Centre’s automated newsroom, from the reporting credited above and CEII’s own data. Facts are attributed to their sources; the publishers have not reviewed this article. Spotted an error? Tell our editors.
