Oil Market Snapshot — Fri, 08 May 2026 21:00 UTC
Published 2026-05-08 21:05
The Strait of Hormuz closure, following US strikes disabling two Iranian tankers, is the primary market driver. LNG surged 30.68% to an unquoted USD/MWh, while Brent Crude Oil jumped 5.57% to $100.5/barrel, and WTI Crude Oil rose 5.31% to $101.7/barrel in the last 24 hours. The Disruption Index remains at 99. The lack of new headlines in this hour suggests a market absorbing the immediate impact of the Strait’s closure. Geopolitical premiums are now fully priced into energy contracts. Further escalation in the Strait of Hormuz could trigger additional sharp price increases across all energy commodities.
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 |
| VLCC tanker freight | 110000 USD/day | 0 |
| Brent Crude | 101.47 USD/barrel | 1.41 |
Top movers
- LNG: % —
- Brent Crude Oil: % —
- WTI Crude Oil: % —
- Brent Crude: % —
- WTI Crude: % —
Frequently asked questions
- What moved oil prices this hour?
- LNG led with a +30.68% move.
- What is the current Strait of Hormuz status?
- US fires on and disables 2 more Iranian tankers as tensions rise in the Strait of Hormuz
- What is the Disruption Index?
- Currently 99, up 0 vs prior reading.