Oil Market Snapshot — Sun, 07 Jun 2026 05:00 UTC
Published 2026-06-07 05:05
The global oil market faces significant disruption as the Strait of Hormuz is closed, with Iran launching missiles and drones toward the critical chokepoint, leading to US intercepts. This geopolitical event has driven Brent Crude Oil to $100.5/barrel, a 5.57% increase, and WTI Crude Oil to $101.7/barrel, up 5.31% in the last 24 hours. The Disruption Index remains at 99, unchanged from its prior reading, indicating ongoing severe market volatility. Conversely, WTI Crude saw a 2.69% decrease to $90.54/barrel, and Brent Crude dropped 0.33% to $92.78/barrel, reflecting underlying complex market dynamics despite the Hormuz closure. LNG recorded a minor dip, down 0.52% to 48.5 EUR/MWh. Sustained closure of the Strait of Hormuz portends severe upward pressure on oil prices in the coming days.
Price snapshot
| Commodity | Price | Change |
|---|---|---|
| Petrochemicals | USD/ | 0 |
| 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 |
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 launches missiles and drones toward Strait of Hormuz; US intercepts
- What is the Disruption Index?
- Currently 99, up 0 vs prior reading.