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BAKKEN WIRE
The Afternoon Take - Energy Market Briefing
Global Markets

Energy Market Briefing

Bakken Wire Staff·🌅Afternoon Wire·
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Daily Energy Briefing: April 12, 2026

Headlines

Oil markets are in a tense holding pattern this Sunday, with prices static after a volatile week. The primary focus remains on the fragile ceasefire between the U.S. and Iran and the upcoming direct talks in Islamabad, scheduled to begin yesterday (Saturday, April 11). According to reports from Rigzone and Bloomberg, the ceasefire is broadly holding, but critical issues—specifically the ongoing Israeli campaign against Hezbollah in Lebanon and the continued closure of the Strait of Hormuz—remain unresolved and threaten to derail negotiations. Oil prices settled lower on Friday, with WTI falling 1.3% to settle below $97, marking a weekly decline of over 13%.

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