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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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Energy Market Briefing Tuesday, July 7, 2026

1. Headlines

Oil prices surged over 5% today, with WTI closing at $72.30 and Brent at $76.00. The immediate catalyst, reported by Rigzone and OilPrice.com, was a new attack on shipping in the Strait of Hormuz. A Qatari LNG carrier was hit and a Saudi oil tanker damaged, testing the fragile U.S.-Iran ceasefire. In response, according to Rigzone, the U.S. revoked a waiver that had allowed some Iranian oil sales.

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