# Middle East diplomacy and global oil price volatility

> Live situation record from CLSTR: https://clstr.news/situations/middle-east-diplomacy-and-global-oil-price-volatility
> Updated: 2026-09-12T00:30:48.000Z. Sources: 35. Developments: 2.

Global oil prices have experienced a downward trend driven by geopolitical developments in the Middle East. In late August, Brent crude and West Texas Intermediate (WTI) saw significant drops of over 4 and 5 percent respectively. This decline was attributed to uncertainty regarding Federal Reserve monetary policy and shifting diplomatic dynamics, specifically regarding US economic sanctions against Iran and efforts to stabilize maritime trade through the Strait of Hormuz.

By mid-September, oil prices continued to decline, with Brent crude falling 2.8 percent to $104.61 per barrel and WTI dropping 2.4 percent to $100.05 per barrel. This volatility follows a period of sharp increases and is linked to ongoing diplomatic discussions between Iran and Gulf nations in Oman concerning the Strait of Hormuz.

## Claims

- The 1-gram Antam gold price is Rp 2,604,000. (disputed by 7 sources)
- Pegadaian reported a decrease in gold prices across all sizes, with 1 gram of Antam gold priced at Rp 2,639,000. (disputed)
- Antam gold prices rose by Rp 4,000 per gram on September 12, 2026. (corroborated by 7 sources)
- The buyback price for Antam gold is Rp 2,454,000 per gram. (corroborated by 6 sources)
- Buyback transactions exceeding Rp 10 million are subject to PPh Article 22 tax of 1.5 percent for NPWP holders and 3 percent for non-NPWP holders. (corroborated by 4 sources)

## Timeline

### 2026-09-12: Antam gold prices in Indonesia remain stable near Rp 2,604,000 per gram

Antam gold prices in Indonesia remained stable or saw slight increases around Rp 2,604,000 per gram, with analysts highlighting high buyback spreads for long-term investors.

14 sources. https://clstr.news/cluster/gold-and-oil-prices-decline-amid-pegadaian-adjustments-and-iran-diplomacy

### 2026-08-29: Oil prices fall amid Fed signals and Middle East diplomatic shifts

Oil prices fell over 5% this week as markets reacted to Federal Reserve interest rate signals and shifting US policy toward economic rather than military pressure on Iran.

21 sources. https://clstr.news/cluster/oil-prices-drop-5-amid-easing-middle-east-supply-risks

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Cite as: Middle East diplomacy and global oil price volatility. CLSTR, https://clstr.news/situations/middle-east-diplomacy-and-global-oil-price-volatility