Oil Market Snapshot — Sun, 07 Jun 2026 08:00 UTC
Published 2026-06-07 08:05
Brent Crude spiked 5.57% to $100.5/barrel, with WTI Crude following suit, up 5.31% to $101.7/barrel. This surge is directly attributable to heightened geopolitical risk after US forces shot down Iranian drones in the Strait of Hormuz, confirming a "partial" status for the critical chokepoint. The Disruption Index remains at 99. Conversely, commodities not directly impacted by the Hormuz incident showed minor shifts; "WTI Crude" registered a 2.69% decline to $90.54/barrel, while LNG slipped 0.52% to €48.5/MWh. Brent Crude (different contract/listing) saw a minimal 0.33% decrease to $92.78/barrel. These price movements underscore a rapidly deteriorating security situation impacting global oil supply. Further escalation in the Strait of Hormuz will continue to dominate oil market sentiment.
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: % —
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.