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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 Sunday, August 9, 2026

1. Headlines

Oil markets are steady today with no significant price movement. WTI is flat at $78.18 and Brent holds at $83.55, according to price data. This stability comes despite ongoing tensions in the Middle East, with Rigzone reporting that oil is steadying as traders weigh a potential deal regarding the Strait of Hormuz against persistent shipping threats. The American Petroleum Institute (API) published an analysis stating that record U.S. crude production and LNG exports are acting as a global stabilizer, cushioning the supply shock from the closure of the Strait of Hormuz.

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