Oil Market Snapshot — Sun, 07 Jun 2026 07:00 UTC
Published 2026-06-07 07:05
Brent Crude Oil surged 5.57% to $100.5/barrel in the past 24 hours, alongside WTI Crude Oil's 5.31% increase to $101.7/barrel, driven by the abrupt closure of the Strait of Hormuz. Iran's missile and drone launches toward the strait, with current US interception efforts, have catapulted oil benchmarks. The Disruption Index remains at 99, unchanged, reflecting a sustained high-risk environment. Conversely, WTI Crude saw a 2.69% decline to $90.54/barrel, and Brent Crude slipped 0.33% to $92.78/barrel, indicating internal market volatility despite the major geopolitical event, potentially from profit-taking on specific contract types. LNG experienced a minor 0.52% dip to 48.5 EUR/MWh, largely insulated from direct Strait of Hormuz impacts. The market outlook remains entirely dictated by developments in the Strait of Hormuz.
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.