Oil Market Snapshot — Wed, 22 Jul 2026 20:00 UTC
Published 2026-07-22 20:05
Oil prices surged in the last hour, with Brent Crude Oil up 5.57% to $100.5/barrel, WTI Crude Oil up 5.31% to $101.7/barrel, and WTI Crude up 4.40% to $88.07/barrel. This dramatic increase follows the announced closure of the Strait of Hormuz, coupled with escalating US-Iran tensions impacting the Bab el-Mandeb passage. The Disruption Index remains at 99, indicating sustained severe market instability. Petrochemicals also saw significant gains, rising 14.10%, while LNG increased by 6.08%. No new headlines were published in this hour. The immediate outlook points to continued price volatility driven by geopolitical risk in key shipping lanes.
Price snapshot
| Commodity | Price | Change |
|---|---|---|
| Petrochemicals | USD/ | 14.1 |
| 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 | 94.18 USD/barrel | 3.49 |
Top movers
- Petrochemicals: % —
- LNG: % —
- Brent Crude Oil: % —
- WTI Crude Oil: % —
- WTI Crude: % —
Frequently asked questions
- What moved oil prices this hour?
- Petrochemicals led with a +14.10% move.
- What is the current Strait of Hormuz status?
- Oil prices surge as Hormuz, Bab el-Mandeb risks escalate amid renewed US–Iran tensions
- What is the Disruption Index?
- Currently 99, up 0 vs prior reading.