Oil Market Snapshot — Mon, 08 Jun 2026 03:00 UTC
Published 2026-06-08 03:05
The Strait of Hormuz is closed following Iranian missile and drone launches, per U.S. military reports. This disruption, reflected in a Disruption Index of 99 (unchanged), has dramatically impacted oil prices. Brent Crude spiked 5.57% to $100.5/barrel, while WTI Crude rose 5.31% to $101.7/barrel in the last 24 hours. Notably, the previous Brent Crude contract (presumably Jul'26) dropped 0.33% to $92.78/barrel. Fertilizer prices saw a modest increase of 0.60% to $419/MT. LNG declined 0.52% to €48.5/MWh. The market awaits updates on the Strait's status, which will dictate immediate oil price trajectory.
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 |
| Brent Crude | 92.78 USD/barrel | -0.33 |
| WTI Crude | 90.25 USD/barrel | -0.32 |
Top movers
- Brent Crude Oil: % —
- WTI Crude Oil: % —
- Fertilizer: % —
- 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.