Oil Market Snapshot — Thu, 23 Jul 2026 00:00 UTC
Published 2026-07-23 00:05
The Strait of Hormuz is officially closed due to escalated US-Iran conflict, sending Brent Crude Oil to $100.5/barrel, a 5.57% surge. WTI Crude followed, rising 5.31% to $101.7/barrel. This hour's headline confirms Iran's seizure of a Greek tanker near the Strait, intensifying geopolitical tensions. LNG prices also spiked, up 48.14%, though specific figures are unavailable. The Disruption Index remains at 99, unchanged, reflecting sustained, extreme market volatility. This closure impacts roughly 20% of global oil supply. Expect continued upward pressure on energy prices alongside heightened geopolitical risk premiums.
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 |
| VLCC tanker freight | 469000 USD/day | — |
| Brent Crude | 94.95 USD/barrel | 4.3 |
Top movers
- LNG: % —
- Brent Crude Oil: % —
- WTI Crude Oil: % —
- WTI Crude: % —
- Brent Crude: % —
Related news
- Iran Seizes Greek Tanker Near Strait of Hormuz — Iran has seized a Greek-owned tanker near the Strait of Hormuz, the third such incident involving vessel captures by Iran since the regional conflict began. This act further underscores heightened tensions in the critical chokepoint for global oil supply. Market pricing suggests a low probability of traffic normalization in the strait by August 31.
Frequently asked questions
- What moved oil prices this hour?
- LNG led with a +48.14% move.
- What is the current Strait of Hormuz status?
- US-Iran Conflict Escalates, Strait of Hormuz Effectively Closed, Oil Surges
- What is the Disruption Index?
- Currently 99, up 0 vs prior reading.