Oil Market Snapshot — Fri, 08 May 2026 23:00 UTC
Published 2026-05-08 23:05
The commodities market concludes with unprecedented volatility as the Strait of Hormuz remains closed, following US forces disabling two more Iranian tankers. This critical chokepoint's closure has sent crude oil prices sharply higher; Brent Crude Oil is up 5.57% at $100.5/barrel, while WTI Crude Oil gained 5.31% to $101.7/barrel. The Disruption Index holds at 99, reflecting sustained high global supply chain stress. LNG, however, leads all movers with an astounding 30.68% surge. The immediate focus is on escalation in the Middle East and its profound impact on oil and gas supply routes.
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.