Oil Market Snapshot — Wed, 22 Jul 2026 21:00 UTC
Published 2026-07-22 21:05
Brent Crude oil surged to $100.5/barrel, a 24-hour increase of 5.57%, as the Strait of Hormuz and Bab el-Mandeb remained closed. This critical choke point status, driven by escalating US-Iran tensions, propelled WTI Crude to $101.7/barrel (+5.31%) and WTI Crude (second spec) to $88.07/barrel (+4.40%). Petrochemicals led commodity gains, posting a 14.10% increase, while LNG rose 6.08% to an undisclosed price. The Disruption Index held at 99, indicating sustained instability. The market awaits de-escalation signals, but none emerged within the last hour. Further escalation of geopolitical issues will dictate market direction.
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.