Oil Market Snapshot — Fri, 08 May 2026 09:00 UTC
Published 2026-05-08 09:05
The Strait of Hormuz is closed following U.S. and Iranian exchanges of fire, driving a 94.00% surge in VLCC tanker freight rates to $423,736/day. Both Brent and WTI crude oil prices responded sharply, with Brent increasing 5.57% to $100.5/barrel and WTI rising 5.31% to $101.7/barrel. Simultaneously, Fertilizer prices jumped 6.71% to $616.25/MT, reflecting wider supply chain concerns. LNG saw a more modest gain of 1.38% to €44.16/MWh. The Disruption Index remains at 99, unchanged from its previous reading. No new headlines were published within the last hour. The immediate outlook is for continued extreme volatility across all energy and commodity markets.
Price snapshot
| Commodity | Price | Change |
|---|---|---|
| Brent Crude | 101.37 USD/barrel | 1.31 |
| WTI Crude | 95.71 USD/barrel | 0.95 |
| LNG | 44.16 EUR/MWh | 1.38 |
| Fertilizer | 616.25 USD/MT | 6.71 |
| Methanol | 1480 USD/MT | 0 |
| Sulfur | 540 USD/MT | 0 |
| Aluminium | 3498.85 USD/MT | 0.45 |
| VLCC tanker freight | 423736 USD/day | 94 |
| Brent Crude Oil | 100.5 USD/barrel | 5.57 |
| WTI Crude Oil | 101.7 USD/barrel | 5.31 |
Top movers
- VLCC tanker freight: % —
- Fertilizer: % —
- Brent Crude Oil: % —
- WTI Crude Oil: % —
- LNG: % —
Frequently asked questions
- What moved oil prices this hour?
- VLCC tanker freight led with a +94.00% 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.