Oil Market Snapshot — Thu, 23 Jul 2026 02:00 UTC
Published 2026-07-23 02:05
The Strait of Hormuz is effectively closed due to escalating US-Iran conflict, pushing Brent Crude to $100.5/barrel (+5.57%) and WTI Crude to $101.7/barrel (+5.31%). LNG prices soared by an unprecedented 48.14%, reflecting severe supply chain disruptions. The Disruption Index remains at 99, unchanged from its prior reading, underscoring persistent market instability. These price surges highlight immediate and critical energy supply concerns. Further escalation or resolution regarding the Strait of Hormuz will dictate near-term commodity price direction.
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: % —
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.