Oil Market Snapshot — Sun, 07 Jun 2026 11:00 UTC
Published 2026-06-07 11:05
Brent Crude Oil surged to $100.5/barrel, a 5.57% increase, and WTI Crude Oil rose 5.31% to $101.7/barrel, driven by the Strait of Hormuz experiencing a complete halt in outbound commercial traffic. This unprecedented closure, stemming from US forces shooting down Iranian drones, escalated the Disruption Index to 99, unchanged from its previous high. The crisis has largely overshadowed minor declines in WTI Crude ($90.54/barrel, -2.69%) and Brent Crude ($92.78/barrel, -0.33%), the latter likely representing an older futures contract or differing benchmark. LNG prices remained relatively stable at €48.5/MWh, down 0.52%, indicating the immediate impact is concentrated in crude oil transit. Continued geopolitical escalation will dictate 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 | 92.78 USD/barrel | -0.33 |
Top movers
- Brent Crude Oil: % —
- WTI Crude Oil: % —
- WTI Crude: % —
- LNG: % —
- Brent Crude: % —
Related news
- Strait of Hormuz Sees Complete Halt in Outbound Commercial Traffic Amid Crisis — The Strait of Hormuz is experiencing an unprecedented and complete cessation of outbound commercial maritime traffic, with zero vessels having exited for several days. This prolonged operational standstill signifies a severe bottleneck crisis with profound implications for global trade and energy supply chains.
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 in Strait of Hormuz amid escalating tensions
- What is the Disruption Index?
- Currently 99, up 0 vs prior reading.