Oil Market Snapshot — Mon, 08 Jun 2026 06:00 UTC
Published 2026-06-08 06:05
Brent Crude surged 5.57% to $100.5/barrel, with WTI up 5.31% to $101.7/barrel, driven by heightened geopolitical instability. The US Navy intercepted multiple Iranian drones and missiles near the Strait of Hormuz at approximately 04:30 GMT, escalating tensions in the critical shipping choke point. This partial closure of the Strait, reflected in a stable Disruption Index of 99, directly impacts crude transit. Methanol plunged 6.15%, but explicit causality to the Hormuz events is not yet established. Sulfur prices rose 2.26%, likely on broader supply concerns. Petrochemicals showed no 24-hour movement. Market focus remains on potential further military engagements in the Persian Gulf.
Price snapshot
| Commodity | Price | Change |
|---|---|---|
| Methanol | USD/MT | -6.15 |
| Sulfur | USD/MT | 2.26 |
| 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 |
Top movers
- Methanol: % —
- Brent Crude Oil: % —
- WTI Crude Oil: % —
- Sulfur: % —
- Petrochemicals: % —
Frequently asked questions
- What moved oil prices this hour?
- Methanol led with a -6.15% move.
- What is the current Strait of Hormuz status?
- US Intercepts Iranian Drones and Missiles Near Strait of Hormuz
- What is the Disruption Index?
- Currently 99, up 0 vs prior reading.