Oil Market Snapshot — Sun, 07 Jun 2026 23:00 UTC
Published 2026-06-07 23:05
Brent crude surged 5.57% to $100.5/barrel, with WTI up 5.31% to $101.7/barrel, driven primarily by the closure of the Strait of Hormuz after US forces downed two Iranian drones targeting international shipping. This drastic supply disruption overshadowed earlier declines in WTI Crude (-2.69% to $90.54) and Brent Crude (-2.04% to $93.09, likely representing futures contracts under different trading instruments). LNG saw a minor dip of 0.52% to €48.5/MWh. The Disruption Index remains elevated at 99, unchanged as the Strait closure shock fully registered. This unprecedented geopolitical event now dictates the immediate trajectory of global oil prices.
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.