Oil Market Snapshot — Thu, 23 Jul 2026 09:00 UTC
Published 2026-07-23 09:05
Oil markets are in turmoil. Brent Crude jumped 5.57% to $100.5/barrel, with WTI Crude surging 5.31% to $101.7/barrel in the last 24 hours. The Strait of Hormuz is closed following an Iranian blockade and tanker incident, directly impacting over 20% of global oil supply. This event, occurring despite US oil refineries operating at record capacities, as reported by the Financial Times, underscores the global supply chokepoints. Geopolitical tensions, cited by Vertex AI Search and Investing.com, are driving prices, with Brent Crude last quoted at $96.07 and WTI at $88.23 an hour ago. The Disruption Index remains at 99, unchanged. Expect continued volatility as supply constraints persist.
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 |
| Petrochemicals | USD/ | 53.52 |
| Brent Crude | 97.47 USD/barrel | 3.61 |
Top movers
- Petrochemicals: % —
- Brent Crude Oil: % —
- WTI Crude Oil: % —
- Brent Crude: % —
- WTI Crude: % —
Related news
- Brent Crude at $96.07, WTI at $88.23 Amid Heightened Geopolitical Tensions — Brent Crude is currently trading around $96.07 per barrel, while WTI Crude is at approximately $88.23 per barrel. These real-time prices reflect a significant increase over the last 12 hours, primarily driven by escalating geopolitical risks in the Middle East, particularly concerning the Strait of Hormuz and Red Sea shipping.
- US Oil Refineries Operating at Record High Capacities Amid Global Supply Chokes — U.S. oil refineries are operating at extremely high capacities, with some regions at 100%, due to global fuel supply constraints caused by conflicts in the Middle East and Ukraine. This high utilization increases the risk of outages and contributes to rising fuel prices. The US has also increased petroleum product exports to record levels.
Frequently asked questions
- What moved oil prices this hour?
- Petrochemicals led with a +53.52% move.
- What is the current Strait of Hormuz status?
- Iran blocks Strait of Hormuz, oil prices soar amid tanker incident
- What is the Disruption Index?
- Currently 99, up 0 vs prior reading.