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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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Afternoon Energy Market Briefing for Wednesday, May 20, 2026

1. Headlines

Oil markets are in a sharp selloff today. According to Rigzone, WTI crude plunged over 5% to settle at $98.87, with Brent falling to $105.37. The immediate catalyst, cited by multiple sources, is political commentary from former U.S. President Donald Trump signaling progress toward a possible deal with Iran. Analysts quoted by Rigzone state these comments are "directly shaping the oil ecosystem," with the market interpreting them as a potential path to de-escalation in the ongoing Strait of Hormuz conflict and a possible return of Iranian barrels.

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