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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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Bakken Wire Energy Market Briefing Thursday, April 16, 2026

1. Headlines

Oil prices surged today, with Brent crude jumping over 3% to $98.10 and WTI gaining 2% to $89.89. According to Rigzone, prices are "holding firm" as the market digests geopolitical risk, with analysts citing a supportive mix of tightening physical supply and ongoing diplomatic efforts. The U.S. Energy Information Administration (EIA) reported a draw of nearly 1 million barrels from commercial crude stocks this week, bringing inventories to 463.8 million barrels, providing a fundamental floor for prices.

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