Oil Market Snapshot — Fri, 08 May 2026 01:00 UTC
Published 2026-05-08 01:05
Oil markets surged after Iran rejected a proposed U.S. deal, keeping the Strait of Hormuz closed following ongoing US-Iran strikes. Brent Crude Oil jumped 5.57% to $100.5/barrel, while WTI Crude Oil rose 5.31% to $101.7/barrel. This instability pushed LNG prices up 3.53% to €43.72/MWh. The Disruption Index remained at 99, reflecting sustained geopolitical tension. However, the listed "WTI Crude" at $91.65/barrel showing a 3.61% *decrease* and "Brent Crude" at $100.98/barrel *decreasing* 3.37% indicates significant intra-day volatility and potential data discrepancies within the provided price movers, necessitating careful interpretation. Persistent Strait closure dictates near-term bullishness for crude benchmarks despite this conflicting data.
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 |
| Petrochemicals | USD/ | 0 |
| Brent Crude | 100.98 USD/barrel | -3.37 |
Top movers
- Brent Crude Oil: % —
- WTI Crude Oil: % —
- WTI Crude: % —
- LNG: % —
- Brent Crude: % —
Frequently asked questions
- What moved oil prices this hour?
- Brent Crude Oil led with a +5.57% move.
- What is the current Strait of Hormuz status?
- Iran rejects US deal as Strait of Hormuz remains closed amid US-Iran strikes.
- What is the Disruption Index?
- Currently 99, up 0 vs prior reading.