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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 Afternoon Briefing Tuesday, July 21, 2026

1. Headlines

Oil prices surged over 2% today, with WTI closing at $84.44 and Brent at $91.31. The primary driver cited across financial and energy media is escalating supply risks in two critical maritime chokepoints. According to reports from Bloomberg and Rigzone, India’s major state refiners have suspended crude loadings from Iraq due to the danger of transiting the Strait of Hormuz following recent tanker attacks. Concurrently, Kazakhstan has halted crude exports via the Caspian Pipeline Consortium (CPC) terminal on Russia’s Black Sea coast after a drone attack, stranding approximately 1.6 million barrels per day of supply.

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