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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 Tuesday, June 30, 2026

1. Headlines

Oil prices are retreating today, with WTI down 0.99% to $70.05 and Brent down 0.66% to $73.42. The immediate catalyst, as reported by Rigzone, is a perceived increase in crude supply as shipping traffic through the Strait of Hormuz begins to slowly resume following the U.S.-Iran ceasefire. Concurrently, Morgan Stanley has cut its oil price forecast for the second time in two weeks, warning of a potential glut, according to a separate Rigzone report.

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