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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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Afternoon Energy Market Briefing for Bakken Wire Monday, July 20, 2026

1. Headlines

Oil prices surged to multi-month highs today, with WTI closing at $82.50 and Brent at $88.96. The move is attributed to a renewed closure of the Strait of Hormuz, which has tanker traffic at pre-ceasefire lows, and escalating U.S.-Iran military strikes following American troop deaths (OilPrice.com, Rigzone). Analysts cited by Rigzone warn that continued disruption could push Brent toward $100 per barrel.

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