Global oil prices are a very important economic indicator, affecting various sectors, from transportation to goods production. In recent months, recent news has shown significant fluctuations in world oil prices, influenced by various factors. In energy trading, crude oil prices are usually recorded in terms of two main benchmarks: Brent and WTI (West Texas Intermediate). Brent is often considered the international oil price benchmark, while WTI focuses more on the US market. Currently, Brent oil prices stand around $80 per barrel, while WTI is hovering around $75. These changes were driven by geopolitical developments, including increasing tensions in the Middle East and OPEC policies. OPEC+ production is also one of the main factors influencing global oil prices. In the last meeting, OPEC+ announced production cuts to stabilize the market. This action was taken in response to a decline in demand, especially from large countries such as China which experienced slowing growth. With its cutting policy, OPEC+ is trying to minimize oversupply in the global market. Apart from that, weather factors are also no less important in influencing oil prices. A harsher-than-expected winter could increase demand for heating, which in turn could push prices up. Meanwhile, production disruptions due to natural disasters, such as tropical storms, can also cause sudden price spikes. A post-pandemic recovering global economy adds complexity, creating unpredictable demand. The renewable energy sector also plays a role in determining global oil prices. With increasing awareness of climate change, countries are starting to invest more in green energy solutions. This switch may reduce dependence on fossil oil, but also create temporary volatility as the market adapts. Market players use news related to innovation and adoption of renewable energy as potential indicators for the future of global oil demand. The increase in oil prices also has a direct impact on inflation in various countries. Countries that depend on oil imports feel additional pressure on their currencies. This creates a cycle where rising oil prices lead to inflation, which in turn can affect monetary policy. Central banks in many countries, such as the US Federal Reserve, may be forced to change interest rates to counter the effects of inflation, potentially slowing economic growth. In the stock market, the energy sector often becomes a target for investors when oil prices increase. Shares of major oil companies such as ExxonMobil and Chevron usually spike when oil prices rise. This attracts investors looking for quick profits. However, on the other hand, companies operating in the renewable energy development sector may experience a decrease in market capitalization, even though long-term trends show potential growth. The latest analysis shows that although oil prices are currently stable, global uncertainty remains a factor to watch out for. Policy measures taken by major countries, fluctuations in demand due to the pandemic, as well as the implementation of renewable energy policies are some of the elements that will continue to influence the oil market in the short to medium term. A sharp rise in oil prices in the near future is still possible, depending on the developing dynamics in the global sector.