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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 Friday, June 5, 2026

1. Headlines

Oil prices are retreating sharply today. As of this afternoon, WTI is down nearly 3% to $90.26, and Brent has fallen over 2% to $92.95. According to reports from Rigzone, traders are citing "weakening global demand fears" and stalled U.S.-Iran negotiations as the primary catalysts for the sell-off. The Baker Hughes rig count, reported via OilPrice.com, shows a modest increase of 2 oil-directed rigs nationally this week, bringing the total to 431.

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