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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 Afternoon Energy Briefing Saturday, April 18, 2026

1. Headlines

Oil prices collapsed by approximately 9% on Friday, with WTI falling to $82.59 and Brent to $90.38. The sell-off, reported by Rigzone and Bloomberg, was triggered by Iran's Foreign Minister announcing the Strait of Hormuz was "completely open" for commercial shipping for the duration of a 10-day Israel-Hezbollah ceasefire. Market analysts cited by Rigzone attributed the drop to a rapid unwind of the geopolitical risk premium, with one source noting commodity trading advisers slashed their net long positions in Brent from 82% to 27% in a single session.

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