Jakarta, May 19 -- Indonesia's Energy Ministry set the average Indonesian Crude Price (ICP) for April 2026 at US$117.31 per barrel, up US$15.05 from March, citing escalating geopolitical tensions and risks of global supply disruptions.

Energy Ministry Oil and Gas Director General Laode Sulaeman said on Tuesday that disruptions in the Strait of Hormuz, US actions against Iranian ports, and attacks on Middle East energy infrastructure pushed prices higher.

He said stronger Chinese economic growth also supported global oil demand, after China's economy expanded 5 percent year-on-year in the first quarter of 2026.

Sulaeman said oil prices could still face pressure from geopolitical uncertainty, although several factors may limit further in...