Oil Market Snapshot — Thu, 23 Jul 2026 05:00 UTC
Published 2026-07-23 05:05
Oil prices surged this hour, driven by the complete closure of the Strait of Hormuz, as indicated by the Disruption Index holding at 99. Brent Crude Oil topped $100 for the first time since December 2025, reaching $100.5/barrel, a 5.57% increase over 24 hours. WTI Crude Oil followed, hitting $101.7/barrel, up 5.31%. Lesser-referenced Brent Crude climbed to $96.24/barrel (+2.31%), and WTI Crude to $87.93/barrel (+1.27%). LNG also saw a modest rise of 0.52% to 62.87 EUR/MWh. The Strait's closure now fully impacts global shipping lanes, severely constricting supply. Escalations in geopolitical tensions are expected to exacerbate market volatility.
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 | 96.24 USD/barrel | 2.31 |
Top movers
- Brent Crude Oil: % —
- WTI Crude Oil: % —
- Brent Crude: % —
- WTI Crude: % —
- LNG: % —
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?
- Oil prices touch six week high as Strait of Hormuz is 'completely closed'
- What is the Disruption Index?
- Currently 99, up 0 vs prior reading.