Oil Market Snapshot — Fri, 11 Sep 2026 13:00 UTC
Published 2026-09-11 13:05
Oil markets are convulsing this hour after the Disruption Index surged to 998, a monumental 899-point increase from its prior reading, driven by the definitive closure of the Strait of Hormuz. This critical chokepoint's closure, confirmed with Gulf Ministers now slated to meet Iran, has fueled a dramatic repricing. Despite the Strait's closure being known, its official confirmation and the diplomatic response sent Brent Crude Oil to $100.5/barrel, a 5.57% gain over 24 hours. WTI Crude Oil followed suit, climbing 5.31% to $101.7/barrel in the same period, indicating a strong short squeeze on prior bearish positions. However, a significant intraday reversal saw Brent Crude drop 3.31% to $104.07 and WTI Crude fall 2.40% to $100.05, reflecting intense volatility as traders digest the geopolitical implications and the potential for a diplomatic resolution. LNG prices are also reacting, down 2.84% to 83.06 EUR/MWh. The market awaits details from the Gulf ministerial meeting.
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.