Oil Market Snapshot — Thu, 23 Jul 2026 04:00 UTC
Published 2026-07-23 04:05
Brent Crude Oil surged to $100.5/barrel, a 5.57% 24-hour increase, as the Strait of Hormuz was confirmed "completely closed." WTI Crude mirrored this, reaching $101.7/barrel (+5.31%). The Disruption Index remains at 99. Brent Crude (ICE) settled at $96.24/barrel (+2.31%), while WTI Crude (NYMEX) traded at $87.93/barrel (+1.27%). LNG prices modestly rose to 62.87 EUR/MWh (+0.52%). Pakistan announced increased LNG imports due to the Strait tensions, as reported by Daily Ausaf. This marks oil's highest price in six weeks. Further escalation or resolution in the Strait will dictate immediate price trajectories.
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: % —
Related news
- Pakistan to Increase LNG Imports Due to Strait of Hormuz Tensions — Pakistan is planning additional liquefied natural gas (LNG) imports, a decision influenced by the ongoing tensions and disruptions in the Strait of Hormuz. This highlights how geopolitical instability in key shipping lanes is impacting global LNG market strategies and supply security for importing nations.
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.