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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 Market Briefing Thursday, July 2, 2026

1. Headlines

Oil markets are treading water today. WTI crude settled at $68.47, down 16 cents, while Brent inched up 3 cents to $71.60, according to price data. The narrative from financial wires, like Rigzone, is that prices are holding near pre-war lows as rising Saudi exports through the Strait of Hormuz reinforce concerns about a growing global supply surplus. The EIA reported a nearly 4-million-barrel weekly draw in U.S. crude stocks, but this was overshadowed by supply news.

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