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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 Tuesday, August 18, 2026

1. Headlines Oil prices pushed to three-week highs today, with WTI settling at $84.48 and Brent at $91.33. Headlines from Rigzone and others attribute the gains to persistent tensions in the Strait of Hormuz and a tightening fuel market. The American Petroleum Institute (API) reported a minor 328,000-barrel draw in U.S. crude stocks, but the notable data point was a significant 2.8 million-barrel draw in distillate inventories, which were already 12% below the five-year average.

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