WTI Crude$--/bbl▲ +0.00 (+0.00%)
Brent Crude$--/bbl▲ +0.00 (+0.00%)
Natural Gas$--/MMBtu▲ +0.00 (+0.00%)
ND Rig Count--▲ +0 WoW
WTI Crude$--/bbl▲ +0.00 (+0.00%)
Brent Crude$--/bbl▲ +0.00 (+0.00%)
Natural Gas$--/MMBtu▲ +0.00 (+0.00%)
ND Rig Count--▲ +0 WoW
BAKKEN WIRE
The Afternoon Take - Energy Market Briefing
Global Markets

Energy Market Briefing

Bakken Wire Staff·🌅Afternoon Wire·

Afternoon Energy Market Briefing Monday, May 4, 2026

1. Headlines

Oil prices surged today, with Brent crude jumping over 5% to $113.70 and WTI climbing nearly 3% to $104.88. The immediate catalyst was a sharp escalation in the Persian Gulf. According to reports from OilPrice.com and Rigzone, Iranian forces reportedly struck the Fujairah port in the UAE and engaged with U.S. naval assets. This violence directly threatens the Strait of Hormuz, a critical chokepoint for global oil flows, and places the fragile U.S.-Iran ceasefire in jeopardy.

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