Oil Market Snapshot — Fri, 08 May 2026 14:00 UTC
Published 2026-05-08 14:05
The Strait of Hormuz closure, stemming from escalating US-Iran clashes, continues to be the dominant market driver. Brent Crude Oil surged 5.57% to $100.5/barrel, with WTI Crude Oil similarly rising 5.31% to $101.7/barrel. The Disruption Index remains at 99, unchanged from its prior reading, reflecting sustained high geopolitical risk. LNG prices saw a more modest gain of 1.98% to 44.42 EUR/MWh. With no new headlines in the past hour, markets are consolidating these gains. Further geopolitical developments around the Strait of Hormuz remain the critical determinant for immediate future price action.
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 | 100.55 USD/barrel | 0.49 |
Top movers
- Brent Crude Oil: % —
- WTI Crude Oil: % —
- LNG: % —
- Brent Crude: % —
- WTI 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?
- US-Iran clashes escalate, Strait of Hormuz remains closed
- What is the Disruption Index?
- Currently 99, up 0 vs prior reading.