Oil Market Snapshot — Fri, 08 May 2026 22:00 UTC
Published 2026-05-08 22:05
At 22:00 GMT on Friday, May 8, 2026, the Strait of Hormuz remained closed following U.S. forces disabling two additional Iranian tankers, escalating geopolitical tensions. The Disruption Index held at 99. LNG prices surged 30.68% to an unstated USD/MWh, reflecting severe supply concerns. Brent Crude Oil jumped 5.57% to $100.5/barrel, while WTI Crude Oil rose 5.31% to $101.7/barrel, driven by the Hormuz closure and the absence of new headlines in the past hour. Brent Crude also saw a 1.41% increase to $101.47/barrel, and WTI Crude gained 0.95% to $95.71/barrel. Ongoing supply shocks are set to keep energy markets volatile.
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.