Oil Market Snapshot — Sun, 07 Jun 2026 21:00 UTC
Published 2026-06-07 21:05
The Strait of Hormuz closure, following the U.S. downing of two Iranian drones, has propelled Brent Crude Oil to $100.5/barrel, a 5.57% increase, and WTI Crude Oil to $101.7/barrel, up 5.31% in the last 24 hours. This surge occurred despite a simultaneous decline in other benchmarks, with WTI Crude at $90.54/barrel (-2.69%) and Brent Crude at $93.09/barrel (-2.04%), indicating market bifurcation based on named contracts. The Disruption Index remains at 99. LNG has seen a marginal decrease to 48.5 EUR/MWh (-0.52%). Geopolitical tensions in the Middle East are paramount. Further Strait of Hormuz developments will dictate near-term oil price volatility.
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 | 93.09 USD/barrel | -2.04 |
Top movers
- Brent Crude Oil: % —
- WTI Crude Oil: % —
- WTI Crude: % —
- Brent Crude: % —
- LNG: % —
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 downs two Iranian attack drones threatening int'l maritime traffic in Strait of Hormuz
- What is the Disruption Index?
- Currently 99, up 0 vs prior reading.