Oil Market Snapshot — Mon, 08 Jun 2026 01:00 UTC
Published 2026-06-08 01:05
The Strait of Hormuz is closed to outbound commercial traffic following Iranian missile and drone launches, according to the U.S. military. This critical disruption, reflected in a stable Disruption Index of 99, has sent global oil prices soaring. Brent Crude Oil surged 5.57% to $100.5/barrel, while WTI Crude Oil rose 5.31% to $101.7/barrel. Fertilizer saw a modest gain of 0.60% to $419/MT. LNG futures dipped slightly, down 0.52% to 48.5 EUR/MWh. A distinct Brent Crude contract (92.78 USD/barrel) also registered a minor dip of 0.33%. Geopolitical tensions around Hormuz will dictate immediate market 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 |
| Brent Crude | 92.78 USD/barrel | -0.33 |
| WTI Crude | 90.25 USD/barrel | -0.32 |
Top movers
- Brent Crude Oil: % —
- WTI Crude Oil: % —
- Fertilizer: % —
- LNG: % —
- Brent Crude: % —
Related news
- Strait of Hormuz Critically Stalled for Outbound Commercial Traffic — The Strait of Hormuz remains critically stalled for outbound commercial traffic, with no vessels of any category having exited today or currently in transit. This prolonged cessation of movement over recent days signifies an escalating bottleneck crisis for global maritime trade.
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?
- Iran launched missiles and drones toward Strait of Hormuz, U.S. military says
- What is the Disruption Index?
- Currently 99, up 0 vs prior reading.