Oil Market Snapshot — Sun, 07 Jun 2026 16:00 UTC
Published 2026-06-07 16:05
Brent Crude surged to $100.5/barrel, a 5.57% increase, and WTI Crude followed at $101.7/barrel, up 5.31%, due to the closure of the Strait of Hormuz after US forces shot down two Iranian drones. This overshadows the contrasting decline in other oil benchmarks, with WTI Crude at $90.54/barrel (-2.69%) and Brent Crude at $92.78/barrel (-0.33%). LNG saw a marginal dip to 48.5 EUR/MWh (-0.52%) as rising US natural gas output and ongoing LNG export plant maintenance weighed on prices, as reported by Reuters. The overall Disruption Index held firm at 99. The coming week will test the market's response to sustained geopolitical instability in the Middle East.
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: % —
Related news
- US Natural Gas Prices Slide on Rising Output, Lingering LNG Export Plant Maintenance — US natural gas futures fell about 3% on Friday due to a small increase in output and ongoing liquefied natural gas (LNG) export plant maintenance. Front-month gas futures for July delivery settled at $3.229 per million British thermal units (mmBtu). Despite a weekly fall, prices had risen to a 16-week high earlier in the session on forecasts for more heat and higher demand through late June.
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.