Oil Market Snapshot — Thu, 23 Jul 2026 07:00 UTC
Published 2026-07-23 07:05
Brent Crude oil surged to $100.5/barrel, a 5.57% increase, and WTI Crude oil reached $101.7/barrel, up 5.31%, fueled by the "complete closure" of the Strait of Hormuz. This situation, reflected in a Disruption Index of 99, represents a six-week high for crude prices. LNG also saw a modest gain, up 0.52% to 62.87 EUR/MWh. The partial status of the Strait of Hormuz, contradicting the "completely closed" headline, indicates significant market volatility and conflicting information. The lack of new headlines in the past hour suggests market participants are processing the implications of the Hormuz disruption. Prices are likely to remain elevated as long as the Strait remains compromised.
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.