Oil Market Snapshot — Fri, 08 May 2026 15:00 UTC
Published 2026-05-08 15:05
Brent Crude Oil surged 5.57% today to $100.5/barrel, with WTI Crude Oil similarly up 5.31% to $101.7/barrel. This dramatic upward movement is directly attributable to the continued closure of the Strait of Hormuz, following escalating US-Iran clashes. The disruption index remains at 99, unchanged from its prior reading, reflecting the persistent and severe supply constraints. While spot prices for both Brent and WTI saw modest gains of +0.49% and +0.02% respectively within the hour, the overarching 24-hour gains underscore acute market anxiety. LNG prices also advanced by 1.98% to €44.42/MWh, signaling broader energy market stress. The persistent closure of the Strait of Hormuz points to continued upward price pressure for crude.
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.