Oil Market Snapshot — Mon, 08 Jun 2026 04:00 UTC

WTI Crude registered a substantial 5.31% gain, reaching $101.7/barrel in the last 24 hours, propelled significantly by a critical geopolitical event within the hour. Trading Economics reported WTI climbing to $93.67 as Iran fired missiles toward Israel, escalating Mideast tensions. Brent Crude followed suit, rising 5.57% to $100.5/barrel. The Strait of Hormuz is experiencing partial disruption, with US forces intercepting Iranian drones and missiles near the passage, underscoring severe regional instability. The Disruption Index remains critically high at 99. Methanol plummeted 6.15%, while Sulfur saw a 2.26% increase. This volatile environment suggests sustained upward pressure on energy prices.

Price snapshot

Top movers

• Methanol: % —
• Brent Crude Oil: % —
• WTI Crude Oil: % —
• Sulfur: % —
• Petrochemicals: % —

Related news

• WTI Crude Climbs to $93.67 as Iran Fires Missiles Toward Israel — WTI crude futures rose above $93 per barrel on Monday, reaching $93.67, a 3.46% increase from the previous day. This rebound follows Iran's launch of multiple missile barrages toward Israel, escalating Middle East tensions and raising concerns about the fragile ceasefire. The protracted conflict and Strait of Hormuz closure continue to keep oil prices elevated.

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.