Oil Market Snapshot — Fri, 11 Sep 2026 16:00 UTC
Published 2026-09-11 16:05
Oil markets surged past $100/barrel in the hour ending 16:00 GMT, with WTI Crude at $101.7 (+5.31%) and Brent Crude at $100.5 (+5.57%) for the 24-hour period, driven by escalating Red Sea supply risks. This comes despite Sprague Energy reporting OPEC has lowered its 2026 oil demand growth forecast amidst the ongoing Middle East conflict. The Disruption Index spiked to 998, an 899-point increase from the prior reading, reflecting heightened geopolitical tensions. The Strait of Hormuz remains under "partial" status due to vessel attacks, high insurance premiums, and ongoing diplomatic talks, directly impacting tanker traffic and raising crude costs. Prices earlier saw a correction, with Brent Crude briefly at $104.13 (-2.70%) and WTI Crude at $99.23 (-2.40%) for a separate 24-hour window, illustrating extreme intraday volatility. LNG futures climbed +1.28%, indicating broader energy market sensitivity. Continued geopolitical instability will define near-term price action.
Price snapshot
| Commodity | Price | Change |
|---|---|---|
| VLCC tanker freight | 520000 USD/day | — |
| 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 | 104.13 USD/barrel | -2.7 |
Top movers
- Brent Crude Oil: % —
- WTI Crude Oil: % —
- Brent Crude: % —
- WTI Crude: % —
- LNG: % —
Related news
- OPEC Lowers 2026 Oil Demand Growth Forecast Amid Middle East Conflict — OPEC lowered its forecast for world oil demand growth in 2026 to 380,000 bpd, marking the fifth consecutive downward revision from a previous estimate of 580,000 bpd. This revision comes amid the intensifying conflict in the Middle East. However, OPEC raised its 2027 global oil demand growth forecast to 2.36 million bpd.
- Oil Market Surges Above $100 as Red Sea Supply Risks Escalate — WTI crude breached $100 for the first time since May 21st after Iran-aligned Houthis seized Yemen's port of Mocha, increasing threats to oil flows through the Red Sea and Bab el-Mandab Strait. The October WTI contract settled up $6.43 at $102.48, and the November Brent contract settled up $6.42 at $107.63. The conflict in the Middle East is intensifying and is expected to last longer than previously anticipated.
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?
- Strait of Hormuz: Vessel attacks, high insurance, and diplomatic talks
- What is the Disruption Index?
- Currently 998, up 899 vs prior reading.