Oil Market Snapshot — Sun, 07 Jun 2026 12:00 UTC
Published 2026-06-07 12:05
Crude oil prices surged following a definitive closure of the Strait of Hormuz after US forces shot down Iranian drones escalating regional tensions. Brent Crude Oil jumped 5.57% to $100.5/barrel, while WTI Crude Oil rose 5.31% to $101.7/barrel within the last 24 hours. Conversely, WTI Crude saw a 2.69% decline to $90.54/barrel, and Brent Crude slipped 0.33% to $92.78/barrel, indicating divergent market reactions amidst the disruption. LNG prices saw a minimal 0.53% decrease to 48.495 EUR/MWh. The Disruption Index remained unchanged at 99. Sustained closure of the Strait of Hormuz portends severe supply shocks.
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
- US Military Shoots Down Two Iranian Drones Over Strait of Hormuz Amid Escalating Tensions — The United States military reported shooting down two more Iranian drones over the Strait of Hormuz, which were threatening international maritime traffic. This action comes as the U.S. administration pressures Iran for a deal to end the Middle East conflict, which has severely impacted the global economy. The fighting in Lebanon also threatens efforts to reopen the Strait of Hormuz, a key transit point for oil and gas.
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 over Strait of Hormuz
- What is the Disruption Index?
- Currently 99, up 0 vs prior reading.