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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 Saturday, May 9, 2026

1. HEADLINES

Oil prices closed higher Friday, recovering slightly from a volatile week. Brent crude rose 1.23% to settle at $101.29, while WTI gained 0.64% to $95.42. The primary driver cited by financial media, including Bloomberg via Rigzone, was renewed military clashes in the Persian Gulf between U.S. and Iranian forces, which traders fear could derail a fragile ceasefire and delay the reopening of the Strait of Hormuz. Prices briefly dipped on news of a separate three-day ceasefire between Russia and Ukraine but remained supported by Gulf tensions.

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