(Insider Stories) - Indonesia will examine the impact of the Middle Eastern turmoil, particularly the coup d’etat in Egypt, on the Indonesian Crude Price (ICP).

Finance Minister Chatib Basri admitted that political pressures had caused a reaction on the global market, particularly in the United States, and the global oil price had increased to US$101 from $99. He said, there is a possibility that the production in 2014 will increase due to higher demand.

According to New York’s main contracts, light sweet crude oil for August delivery increased by 28 US cents to US$103.5 per barrel while Brent North Sea crude oil for August delivery increased by 25 US cents to US$107.97.

The increase in oil prices triggered increases in Asian trades on Monday after US employment data exceeded expectations, leading to greater confidence in the world’s biggest economy.