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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

Monday, August 3, 2026

1. Headlines

Oil prices are in a sharp sell-off today. As reported by Rigzone, WTI fell 5.46% to settle at $80.05, with Brent down 5.03% to $83.51. The stated catalyst is a de-escalation of geopolitical tensions, specifically "renewed optimism over Strait of Hormuz negotiations," which has eased fears of major supply disruptions.

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