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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 | Afternoon Update for Sunday, July 26, 2026

1. Headlines The dominant story today is the resurgence of geopolitical risk premiums and their impact on fuel markets. According to multiple reports from OilPrice.com and Rigzone, Brent crude briefly topped $100 per barrel this week following Houthi strikes on tankers in the Red Sea's Bab el-Mandeb Strait. This has effectively created a second major oil chokepoint blockage, compounding the ongoing Iranian disruption of the Strait of Hormuz. Analysts at Rystad Energy have mapped four potential U.S.-Iran conflict scenarios, underscoring market sensitivity to any escalation.

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