Global Oil Prices Surge to $89.30 and $83.23 on August 12

The world oil price has seen fluctuations in recent days, with Brent Crude currently sitting at US$89.30 per barrel and WTI at US$83.23 per barrel as of Wednesday, August 12, 2026.

This data comes from the latest market information available, which also notes that production decisions by OPEC+ countries can impact global supply, while weekly US crude oil reserve data releases and changes in the US Dollar exchange rate against other currencies can also influence prices.

In Indonesia, rising world oil prices could increase the energy subsidy burden and affect domestic inflation, while a decline could provide more fiscal room for the government as a net oil importer.