Oil Market Snapshot — Fri, 08 May 2026 04:00 UTC
Published 2026-05-08 04:05
Brent Crude surged to $100.5/barrel, a 5.57% increase, following the closure of the Strait of Hormuz due to an exchange of fire between the US and Iran. This geopolitical escalation also propelled WTI Crude to $101.7/barrel, up 5.31%. Concurrently, WTI Crude futures at $91.65/barrel experienced a 3.61% decline, indicating a divergence in immediate vs. forward pricing. LNG prices saw a modest rise of 2.82% to EUR 44.79/MWh, while petrochemicals notched a notable 16.00% gain, albeit with unspecified units. The Disruption Index held at 99, reflecting sustained high market uncertainty. Geopolitical tensions in the Middle East will dictate near-term price trajectories.
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/ | 16 |
| Brent Crude | 101.43 USD/barrel | 1.37 |
Top movers
- Petrochemicals: % —
- Brent Crude Oil: % —
- WTI Crude Oil: % —
- WTI Crude: % —
- LNG: % —
Frequently asked questions
- What moved oil prices this hour?
- Petrochemicals led with a +16.00% move.
- What is the current Strait of Hormuz status?
- US, Iran Exchange Fire in Strait of Hormuz; Shipping Closed
- What is the Disruption Index?
- Currently 99, up 0 vs prior reading.