Rupiah weakens to Rp17.918 per dollar after oil prices rise
WTI jumped to US$93.74 and Brent to US$106.65 a barrel, adding to energy import pressure as markets await US inflation data.
The rupiah opened 18 points, or 0.10 percent, lower at Rp17.918 per U.S. dollar in Wednesday trade, from the previous close of Rp17.900. Pressure came from higher global oil prices after the Saudi Aramco administration building in Dhahran was reported struck by Ansarullah Yaman, or Houthi, on Tuesday night, sparking a small fire. Saudi Arabia's Energy Ministry said emergency teams had handled the incident and there were no casualties. Following the incident, November WTI rose US$1.89 to US$93.74 a barrel, while December Brent gained US$1.93 to US$106.65 a barrel. Doo Financial analyst Lukman Leong expects the rupiah to move in a range of Rp17.850-Rp17.950 per U.S. dollar, with limited support from a weaker U.S. dollar index and UST yields after dovish comments from John C. Williams of The Fed.