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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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Bakken Wire Energy Briefing Afternoon, Saturday, July 18, 2026

1. Headlines

Oil markets closed the week with a significant rally. Today, both WTI and Brent crude surged over 4.5%, with WTI settling at $81.78 and Brent at $88.10. According to Rigzone reports, the move was fueled by escalating fears of a wider conflict involving Iran, following days of heightened tension around the Strait of Hormuz. The rally extended weekly gains despite some profit-taking noted in Friday's session.

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