Oil Market Snapshot — Fri, 08 May 2026 05:00 UTC
Published 2026-05-08 05:05
The Strait of Hormuz remains closed following US-Iran exchanges, stabilizing the Disruption Index at 99. Brent Crude surged to $100.5/barrel (+5.57%), with WTI Crude at $101.7/barrel (+5.31%). WTI Crude (Cushing) bucked the trend, declining to $91.65/barrel (-3.61%). Petrochemicals showed a significant percentage gain of +16.00% despite no specific price data. LNG prices rose to €44.79/MWh (+2.82%). Absent new headlines, persistent geopolitical risk in the Middle East continues to drive commodity prices. Further updates on the Strait of Hormuz will dominate near-term market direction.
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.