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WTI Crude--
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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 Thursday, July 16, 2026

1. Headlines

Oil markets are in a holding pattern today despite a flurry of concerning geopolitical headlines. WTI crude is nearly flat, trading at $79, while Brent is unchanged at $84.95. The Bakken differential sits at -$3.42 vs. WTI. The primary focus remains the Middle East, where reports from Rigzone detail intensified U.S.-Iran skirmishes overnight and dwindling tanker traffic through the critical Strait of Hormuz. In a significant move, India has directed its seafarers not to crew vessels transiting the Strait, according to Rigzone.

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