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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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Date: Friday, May 1, 2026

1. Headlines

Oil prices are retreating today after a volatile surge earlier this week. WTI crude is trading at $102.36, down 2.58%, while Brent sits at $108.84, down 1.41%. According to reports from Rigzone and Bloomberg, the pullback follows a dramatic run-up that saw Brent briefly top $126 a barrel—a four-year high—amid stalled peace talks with Iran and the ongoing closure of the Strait of Hormuz. Analysts cite thin market liquidity and the expiry of the front-month Brent contract as technical factors behind the decline.

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