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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 August 1, 2026

1. Headlines

Crude prices closed the week with gains, with WTI settling at $84.67 (+1.29%) and Brent at $90.12 (+1.22%). According to Rigzone, this caps Brent's strongest monthly gain since March, driven by supply concerns stemming from geopolitical conflict. The immediate catalyst is an attack by Ukraine on a major Lukoil refinery in Russia, as reported by Rigzone, which adds to ongoing market anxiety over Middle East tensions involving the U.S. and Iran.

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