Dream - The conflict between Israel and Hamas is not yet over. At least, currently 1,400 Israeli citizens have died in the Hamas military operation, including 286 soldiers. Additionally, 2,670 Palestinian citizens have died in Israeli air strikes. The United Nations (UN) estimates that 1 million Palestinian residents of Gaza have been displaced in the first seven days of the conflict with Israel. Meanwhile, an Israeli military spokesperson stated that 155 prisoners have been detained in Gaza.

Although the war that occurred far from the Indonesian region, President Joko Widodo (Jokowi) said that the war could affect and worsen the situation of the world in facing the food and energy crisis. "Don't think that a war like that doesn't affect us, on the contrary, it greatly affects us," said Jokowi quoted from Liputan6.com, Monday, October 16, 2023.

Jokowi warned that the war has the potential to cause an energy crisis with an increase in the price of fuel (BBM) worldwide. This comes after the food crisis triggered by the war in Russia and Ukraine. "The price of food has increased due to the war in Ukraine. In the future, the price of energy could rise due to the war between Palestine and Israel. Energy prices refer to gasoline and pertamax. I don't want to scare anyone, but it could happen because if the war doesn't end, the global price of fuel will definitely increase," said Jokowi.

However, world oil prices fell again on Monday, October 16, 2023. Channel News Asia reported that Brent crude oil futures fell by 34 cents, or 0.4 percent, to US$90.55 per barrel. Meanwhile, West Texas Intermediate (WTI) crude oil prices in the United States fell by 41 cents, or 0.5 percent, to US$87.28 per barrel.

The President of the World Trade Organization (WTO), Ngozi Okonjo-Iweala, also warned that the Israel-Hamas conflict could have a significant impact on the already weak global trade flow. Especially if the conflict escalates throughout the region. "We hope this ends quickly and can be resolved. Our biggest fear is if this escalates, as it would have a huge impact on trade," she said in an interview.

According to Ngozi Okonjo, violence in the Middle East can add factors that hinder trade growth, including higher interest rates, tension in the Chinese property market, and the Russian war in Ukraine. Unlike President Jokowi, US Treasury Secretary Janet Yellen believes that the Israel-Hamas conflict will not have a significant impact on the global economy. "Although we are monitoring the potential economic impact of this crisis (in Israel and Gaza), I do not really consider it as a main driver of global economic prospects," she said in a CNN report.

Another view was also expressed by the Deputy Minister of State-Owned Enterprises (BUMN), Kartika Wirjoatmodjo, who ensured that the supply of oil within the country is safe from the Israel-Hamas conflict. They will maintain the supply of fuel oil (BBM), including Pertalite and Solar. They are trying to find sources with more affordable prices. It is known that Indonesia imports oil from several countries such as Nigeria, America, and others.

From an industry perspective, the Chairman of the Manufacturing Industry Division of the Indonesian Employers Association (Apindo), Bobby Gafur Umar, said that the Hamas-Israel conflict could have an impact on the increase in raw material prices in Indonesia, especially energy. The reason is that not all energy raw materials, such as gas and oil, can be produced or are limited in quantity in Indonesia. Bob said that if the prices of these two raw materials increase, it can disrupt domestic industrial growth.

"The direct impact of the crisis in the Middle East is energy. For example, our oil production is 600 thousand barrels per day, while our energy needs for fuel alone are already 1.2-1.5 million barrels per day. So if we have to import and the price increases, it automatically disrupts the supply of energy needed by Indonesia," quoted from Liputan6.com. He mentioned that the increase in oil prices will have a significant impact on the price of oil fuel (BBM) in Indonesia. In addition to disrupting the government's financial health, it can also have an impact on industries that rely on energy sources from abroad."