Those Who Reverse Course in Medco (MEDC) as Oil Prices Surge
Investors adjust positions in Medco Energi (MEDC) as oil prices rise due to US-Iran tensions. Analysts recommend buying MEDC, with a target price of IDR 2,135.
(Bisnis.Com) 01/01/70 07:00 160803
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.
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