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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 Wednesday, July 15, 2026

1. Headlines

Oil prices continue to rally, with Brent crude hitting a one-month high above $86. According to reports from Rigzone and OilPrice.com, the primary driver remains the ongoing blockade of the Strait of Hormuz by Iran’s Revolutionary Guard. The International Maritime Organization’s Secretary-General stated the strait is now too dangerous for commercial vessels, effectively confirming a major supply disruption. Concurrently, Asian refiners are aggressively buying U.S. crude, with at least 11 million barrels reported sold late Tuesday, per unnamed traders cited by Rigzone.

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