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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 Friday, June 12, 2026

1. Headlines

Crude oil prices are sharply lower today. As of this writing, WTI is down nearly 4% at $84.26, and Brent has fallen to $86.81. The primary catalyst across financial media, according to reports from Rigzone, is a dramatic shift in U.S. policy toward Iran. President Trump, who just hours earlier threatened military strikes, has signaled that an interim peace deal is close. The stated aim of such a deal is to reopen the Strait of Hormuz, a critical global oil chokepoint. Markets are pricing in reduced geopolitical risk and the potential for smoother Iranian oil flows.

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