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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 for Bakken Wire Date: Sunday, July 19, 2026

1. Headlines

Markets are closed today, but the narrative from Friday’s trading remains dominated by escalating Middle East conflict and its potential to choke off global oil supply. According to multiple reports from OilPrice.com, U.S. and Iranian forces engaged in a sixth consecutive night of strikes on July 16-17. U.S. CENTCOM stated it struck "dozens" of Iranian military targets, while Iranian media reported retaliatory drone and missile attacks on U.S. assets in Bahrain and Kuwait, as well as strikes on civilian infrastructure like bridges. The immediate concern is a renewed collapse in tanker traffic through the Strait of Hormuz, a chokepoint for roughly 20% of global seaborne oil.

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