Oil Market Snapshot — Sun, 07 Jun 2026 13:00 UTC
Published 2026-06-07 13:05
The Strait of Hormuz is now closed, with US forces reportedly shooting down Iranian drones, halting all outbound commercial traffic. This immediate and severe disruption triggered a sharp 24-hour spike: Brent Crude Oil jumped 5.57% to $100.5/barrel, and WTI Crude Oil rose 5.31% to $101.7/barrel as of 13:00 GMT. The unprecedented closure, reflected in a "Disruption Index" of 99 (unchanged), has overshadowed minor declines in other listed commodities like LNG (-0.53% to €48.495/MWh). This event dwarfs previously reported WTI Crude at $90.54/barrel (-2.69%) and Brent Crude at $92.78/barrel (-0.33%). Global oil markets brace for an acute supply shock.
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 | 92.78 USD/barrel | -0.33 |
Top movers
- Brent Crude Oil: % —
- WTI Crude Oil: % —
- WTI Crude: % —
- LNG: % —
- Brent Crude: % —
Related news
- Strait of Hormuz Experiences Total Cessation of Outbound Commercial Traffic — The Strait of Hormuz is currently experiencing a complete halt in outbound commercial maritime traffic, with no vessels recorded exiting today and none presently transiting eastbound. This unprecedented operational stall has transformed the critical waterway into a severe bottleneck for global trade, trapping commercial shipping within the Persian Gulf.
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?
- US forces shoot down Iranian drones over Strait of Hormuz
- What is the Disruption Index?
- Currently 99, up 0 vs prior reading.