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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 Saturday, August 8, 2026

1. Headlines

Crude oil prices are solidly higher today, with WTI gaining 1.15% to $78.18 and Brent up 1.29% to $83.55, according to market data. The immediate catalyst is a significant statement from Iran's Supreme National Security Council, reported by OilPrice.com, declaring the Strait of Hormuz will remain closed until the U.S. meets six sweeping demands. These include ending military action, withdrawing forces, paying war damages, and lifting sanctions. This directly contradicts more optimistic signals from U.S. Vice President JD Vance, who recently stated the U.S. expects Gulf flows to eventually return to normal.

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