Forest fires in Way Kambas National Park extinguished; President Prabowo orders focus on conservation area

The oil market is experiencing heightened volatility as prices decline, with Brent crude falling by $1.23 to $93.16 per barrel and U.S. WTI dropping $1.36 to $85.70. This downturn follows two consecutive weeks of gains, where both contracts saw increases exceeding 5%. Investors are adopting a cautious stance, closely watching Washington for the announcement of new sanctions against Iran. The fragile market sentiment stems from the potential for any disruption in Middle Eastern energy exports to directly impact the global energy supply.

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We are also asking for attention for Lampung. Lampung has Way Kambas National Park, that is also our focus. I received a report that there are hotspots there, and there has been a fire of several hectares.

The stalemate in U.S.-Iran negotiations has amplified market uncertainty. Attention remains focused on the Strait of Hormuz, a critical chokepoint through which approximately one-fifth of the world's oil supply transits. U.S. Treasury Secretary Scott Bessent is scheduled to hold a press conference, having previously threatened Iran with "the harshest sanctions in history." President Donald Trump has also indicated potential sanctions against Iran's trading partners.

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And that is our conservation park for, for elephants and so on. The last elephants in Sumatra must be cared for there.

Analysts express mixed views on the effectiveness of the U.S. economic isolation policy towards Iran. Vivek Dhar, a commodities analyst at Commonwealth Bank of Australia, noted in a memo that it remains unclear if the U.S. strategy will succeed. However, he added that if the sanctions are implemented as intended, Iran's capacity to retaliate with increased violence poses a growing risk to energy markets.

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Based on monitoring by the Way Kambas National Park Center, the wild elephant herds are in the northern part of the national park, far from the fire location. Meanwhile, the elephants at the Elephant Conservation Center are also in unaffected areas.

Iran has condemned the U.S. sanctions plans, with President Masoud Pezeshkian calling for a diplomatic resolution. Tony Sycamore, an analyst at IG Markets, commented that while pragmatic Iranian leaders might prefer de-escalation, hardliners are likely to resist. Sycamore anticipates a clearer picture of the dominant faction within Iran's leadership by the end of the week. Reports indicate that Iranian crude oil supplies to Chinese buyers have decreased, while prices have risen, due to the U.S. embargo restricting Tehran's shipments. However, Iran recently permitted some Iraqi tankers to transit the Strait of Hormuz following repeated requests from Baghdad.

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The fire in the Kuala Penet Resort area, Way Kambas National Park, East Lampung Regency, was successfully extinguished on Saturday (22/8) around 7:00 PM Western Indonesian Time.