Bisnis.com, JAKARTA — Several prominent investors have begun shifting their positions in the shares of oil and gas producer PT Medco Energi Internasional Tbk. (MEDC), part of the Panigoro family’s business group, as oil prices surged amid the escalating US-Iran conflict.

Brent crude briefly broke through and held above US$100 per barrel, before later fluctuating around US$93 per barrel. Oil prices surged close to US$120 per barrel on Monday (3/9/2026) after major producers in the Persian Gulf were forced to curb output following the effective closure of the Strait of Hormuz, a narrow maritime corridor that typically carries about one-fifth of global oil supply.

Bisnis.com, JAKARTA — Prajogo Pangestu, Anthoni Salim, and other fellow tycoons remain firmly atop Indonesia’s rich list despite a sharp erosion in their fortunes as stock market volatility intensifies amid the US-Israel confrontation with Iran.

Asian equities extended their slide for a second consecutive session, as escalating Middle East tensions amplified risk aversion across global markets.