Oil Market Snapshot — Sun, 07 Jun 2026 18:00 UTC
Published 2026-06-07 18:05
The closure of the Strait of Hormuz due to US military action against Iranian drones has sent Brent Crude Oil to $100.5/barrel, a 5.57% surge in the last 24 hours. WTI Crude Oil followed, rising 5.31% to $101.7/barrel. This geopolitical escalation, indicated by a stable Disruption Index at 99, overrides minor downturns in other commodities like Brent Crude at $92.78/barrel (-0.33%) and LNG at €48.5/MWh (-0.52%). Remarkably, a separate WTI Crude listing shows a 2.69% decline to $90.54/barrel, likely reflecting a pre-Hormuz incident assessment or a distinct contract. The immediate future hinges on the duration of the Strait's closure and subsequent diplomatic responses.
Price snapshot
| Commodity | Price | Change |
|---|---|---|
| Petrochemicals | USD/ | 0 |
| 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 |
| 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 military shoots down 2 Iranian drones over Strait of Hormuz
- What is the Disruption Index?
- Currently 99, up 0 vs prior reading.