Oil Market Snapshot — Fri, 11 Sep 2026 12:00 UTC
Published 2026-09-11 12:05
The Strait of Hormuz closure, confirmed at 11:30 GMT, has sent crude oil prices sharply higher, driving the Disruption Index to 998, an 899-point surge. Brent Crude (Nov-26 contract) is up 5.57% at $100.50/barrel, while WTI Crude (Oct-26 contract) gained 5.31% to $101.70/barrel over the last 24 hours. This spike reverses recent declines, with Brent Crude (Dec-26) down 3.31% to $104.07/barrel and WTI Crude (Nov-26) off 2.40% at $100.05/barrel, reflecting immediate supply panic versus lingering forward bearishness. LNG prices also saw a decline, with the TTF benchmark at €83.06/MWh, down 2.84% as industrial demand concerns persist. Gulf ministers are slated to meet Iran to negotiate a resolution for the Strait's reopening. Geopolitical developments remain the sole determinant for immediate price action.
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 | 104.07 USD/barrel | -3.31 |
Top movers
- Brent Crude Oil: % —
- WTI Crude Oil: % —
- Brent Crude: % —
- LNG: % —
- WTI 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?
- Strait of Hormuz Closed; Gulf Ministers to Meet Iran for Deal
- What is the Disruption Index?
- Currently 998, up 899 vs prior reading.