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Today's Wire

Sunday, August 30, 2026

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☀️Morning Wire7:00 AM CST

The Morning Take

Energy Market Briefing

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Oil Prices

Oil Prices Edge Lower as U.S. Inventories Grow

Front-month oil prices were down slightly in early trading Monday, with West Texas Intermediate (WTI) crude trading at $83.4 per barrel, a loss of $0.13 or 0.16%. Global benchmark Brent crude traded at $88.1, down $0.42 or 0.47%. North Dakota's primary crude price, represented by the Bakken differential, was quoted at a discount of $3.42 per barrel versus WTI. Natural gas prices also saw a modest decline, trading at $2.89, down $0.03. Market pressure comes from a reported build in U.S. commercial crude inventories. According to Rigzone, the latest U.S. Energy Information Administration (EIA) weekly petroleum status report showed crude oil stocks, excluding the Strategic Petroleum Reserve, stood at 428.9 million barrels on August 21. For Bakken operators, the small decline in headline prices, coupled with the persistent regional discount, maintains pressure on wellhead economics. The current Bakken differential of -$3.42 is a critical factor in determining netback revenue for...

☀️Morning Wire·Aug 30

Rig Report

Bakken Rig Count Holds at 36, Up 9 Rigs Over Past Month

The number of active drilling rigs in North Dakota remained unchanged for a second day, holding steady at 36 on Sunday, according to Bakken Wire live data. No rigs were added, removed, or moved location since yesterday's report. The current count represents a significant increase in activity compared to recent weeks. The rig count is up by two from the 34 rigs active one week ago, on August 23, 2026. More notably, activity has surged by nine rigs over the past month, climbing from a base of 27 rigs on July 31, 2026. The stability in the Bakken contrasts with new drilling programs being launched in other major U.S. oil basins. According to a report from Rigzone, Texas-based EON has commenced a 92-well horizontal drilling program in New Mexico. The company's CEO, Dante Caravaggio, stated that "the first three of 92 horizontal wells now being drilled makes all the difference...

☀️Morning Wire·Aug 30

Daily Activity

DMR Daily Activity Report Shows No New Filings for Saturday

The North Dakota Department of Mineral Resources (DMR) daily activity report for Saturday, August 29, 2026, contained no new permit applications, spud notices, completion reports, or well plugging records, according to the agency's data. The DMR's daily report is a key regulatory snapshot for the Bakken, detailing new intents to drill (permits), the start of drilling (spuds), the finishing of wells (completions), and the permanent closure of wells (plugging). Days with no new filings are a normal occurrence in the state's oil and gas industry, particularly on weekends and holidays when regulatory and company offices are typically closed. Such pauses in reported activity do not reflect a halt in ongoing drilling or production operations across the Williston Basin. They simply indicate a lull in the submission of new official paperwork to state regulators. The next report, expected to reflect any filings from Sunday, will be issued on Monday.

☀️Morning Wire·Aug 30

Global Markets

Global Energy Import Bill Swells by $330B Amid Iran Conflict

The war between the United States, Israel, and Iran has added an estimated $330 billion to the global energy import bill over the past six months, according to a new analysis from the Finland-based Centre for Research on Energy and Clean Air (CREA). The data, reported by OilPrice.com, covers the period from March to August 2026 and highlights the financial strain on key import regions that are major destinations for Bakken crude and natural gas. The biggest share of the extra cost came from crude oil, which accounted for $164.1 billion of the total. Diesel and gasoil added $73.8 billion, while liquefied natural gas (LNG) was $38 billion more expensive for importers than pre-war forecasts. The European Union, a primary market for U.S. energy exports including Bakken crude shipped from the Gulf Coast, saw its import bill surge by $78 billion. The CREA analysis cited the EU's high dependence on...

☀️Morning Wire·Aug 30

🔆Midday Wire11:00 AM CST

The Midday Take

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Oil Prices

Crude Prices Edge Lower Midday; Bakken Differential Widens Slightly

Front-month crude oil futures were slightly lower in midday trading Sunday, August 30, with both major benchmarks easing as traders assessed market fundamentals. West Texas Intermediate (WTI) crude for October delivery was trading at $83.40 per barrel, down 13 cents or 0.16% on the session. The global benchmark, Brent crude, saw a steeper decline, trading at $88.10 per barrel, down 42 cents or 0.47%. The price for Bakken crude at the Clearbrook, Minnesota hub was indicated at a discount of $3.42 per barrel below the WTI benchmark price. This differential is a key metric for North Dakota producers, representing the value of their crude after accounting for transportation costs from the wellhead to major market hubs. Natural gas prices also saw downward pressure, with the front-month contract trading at $2.89 per MMBtu, a decline of 3 cents. The modest pullback in crude comes amid a typically quiet pre-holiday trading session,...

🔆Midday Wire·Aug 30

🌅Afternoon Wire4:00 PM CST

Oil Prices

Oil Prices Hold Steady Amid Thin Holiday Trading

Oil prices were unchanged in thin trading activity on Sunday, August 30, providing a steady backdrop for Bakken operators heading into the week. West Texas Intermediate (WTI) crude held at $83.40 per barrel, while the international benchmark Brent crude was flat at $88.10, according to live price data. The lack of movement reflects typically subdued trading volumes on a weekend, with major financial markets in the United States and Europe closed. The stability comes after a volatile week influenced by geopolitical tensions and shifting expectations for Federal Reserve interest rate policy. For Bakken producers, the local price benchmark showed a slight improvement. The Bakken crude differential to WTI narrowed to a discount of $3.42 per barrel. This means Bakken crude is priced at approximately $79.98 per barrel ($83.40 - $3.42). A narrower discount improves netbacks for operators in North Dakota's primary oil-producing region. Natural gas prices also showed no change,...

🌅Afternoon Wire·Aug 30

Rig Report

North Dakota Rig Count Holds at 36, Up 9 from July

The number of active drilling rigs in North Dakota held steady at 36 on Sunday, according to the latest live rig data from Bakken Wire. The count showed no day-over-day change, with no new rigs added, none removed, and none moving locations. The current level represents a significant increase from recent lows, underscoring a period of regained activity in the Bakken formation. Compared to one week ago, the rig count is up by two, having risen from 34 active rigs on August 23, 2026. The more pronounced trend emerges when looking back one month. The active rig fleet has grown by nine units since July 31, 2026, when the state reported only 27 rigs in operation. This sustained increase suggests operators are committing more capital to drilling programs as market conditions permit. The Williston Basin's rig count is a closely watched leading indicator for future oil production in North Dakota,...

🌅Afternoon Wire·Aug 30