Oil Market Snapshot — Sun, 07 Jun 2026 03:00 UTC
Published 2026-06-07 03:05
Brent Crude oil surged 5.57% to $100.5/barrel, and WTI Crude rose 5.31% to $101.7/barrel in the last 24 hours, driven by the abrupt closure of the Strait of Hormuz. The US military confirmed Iran launched missiles and drones toward the critical chokepoint, escalating geopolitical tensions dramatically. This closure, reflected in a Disruption Index holding at 99, immediately curtailed a significant portion of global crude shipments. While LNG saw a minor dip of 0.52% to €48.5/MWh, crude markets are reacting acutely to supply shock. Earlier Brent and WTI trading, denoted as $92.87 (-0.33%) and $90.54 (-2.69%) for ‘Brent Crude’ and ‘WTI Crude’ respectively, underscores the sharp reversal from previous bearish sentiment. Markets now brace for sustained volatility as geopolitical fallout unfolds.
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 | 92.87 USD/barrel | -0.33 |
Top movers
- Brent Crude Oil: % —
- WTI Crude Oil: % —
- WTI Crude: % —
- LNG: % —
- Brent 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?
- Iran launched missiles and drones toward Strait of Hormuz, U.S. military says
- What is the Disruption Index?
- Currently 99, up 0 vs prior reading.