Oil Market Snapshot — Fri, 11 Sep 2026 11:00 UTC
Published 2026-09-11 11:05
Oil markets surged this hour, driven by the complete closure of the Strait of Hormuz, a critical chokepoint for global oil transit. The Disruption Index spiked by 899 points to 998, reflecting acute supply concerns. WTI Crude led gains, trading at $101.08/barrel, up 6.69% in 24 hours. Brent Crude followed, reaching $100.50/barrel, an increase of 5.57%. Other WTI and Brent contracts also posted strong increases, up 5.31% and 3.19% respectively. Gulf Ministers are reportedly meeting Iran to negotiate a deal, but immediate supply fears dominate. European LNG spot prices remained flat at 0 EUR/MWh. Geopolitical tensions are now the primary price driver. Markets anticipate extreme volatility until the Strait reopens or alternative supply routes are secured.
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/ | 0 |
| Brent Crude | 104.52 USD/barrel | 3.19 |
Top movers
- WTI Crude: % —
- Brent Crude Oil: % —
- WTI Crude Oil: % —
- Brent Crude: % —
- LNG Europe spot price: % —
Frequently asked questions
- What moved oil prices this hour?
- WTI Crude led with a +6.69% move.
- What is the current Strait of Hormuz status?
- Strait of Hormuz Closed; Gulf Ministers to Meet Iran for Deal
- What is the Disruption Index?
- Currently 998, up 899 vs prior reading.