Oil Market Snapshot — Thu, 07 May 2026 23:00 UTC
Published 2026-05-07 23:05
The Strait of Hormuz closure, with Iran seeking control amid stalled peace talks, remains the dominant market force, reflected in a Disruption Index holding at 99. Brent Crude Oil surged 5.57% in 24 hours to $100.5 USD/barrel, while WTI Crude Oil rose 5.31% to $101.7 USD/barrel. LNG prices soared by an astounding 30.68%, though an absolute value was not provided. Fertilizer prices jumped 14.05%. Notably, a separate Brent Crude listing showed a slight dip of 0.34% to $100.98 USD/barrel. The sustained geopolitical tension in the Middle East continues to drive significant upward price pressure across energy commodities. The immediate outlook remains highly sensitive to developments in the Strait of Hormuz.
Price snapshot
| Commodity | Price | Change |
|---|---|---|
| Brent Crude Oil | 100.5 USD/barrel | 5.57 |
| WTI Crude Oil | 101.7 USD/barrel | 5.31 |
| LNG Europe spot price | 0 EUR/MWh | 0 |
| Urea fertilizer spot price | 0 USD/MT | 0 |
| Methanol spot price | 0 USD/MT | 0 |
| Sulfur spot price | 0 USD/MT | 0 |
| Aluminium LME spot price | 0 USD/MT | 0 |
| VLCC tanker freight rate | 0 USD/day | 0 |
| Brent Crude | 100.98 USD/barrel | -0.34 |
| WTI Crude | 95.11 USD/barrel | -0.34 |
Top movers
- LNG: % —
- Fertilizer: % —
- Brent Crude Oil: % —
- WTI Crude Oil: % —
- Brent Crude: % —
Frequently asked questions
- What moved oil prices this hour?
- LNG led with a +30.68% move.
- What is the current Strait of Hormuz status?
- Strait of Hormuz Closed; Iran Seeks Control Amid Peace Talks
- What is the Disruption Index?
- Currently 99, up 0 vs prior reading.