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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 Wednesday, August 26, 2026

1. Headlines

Oil prices are declining for a third consecutive session today. Brent crude is down 0.87% to $86.51, and WTI is down 0.62% to $81.85. The primary catalyst cited across reports, from both OilPrice.com and Rigzone, is diplomatic progress between Iran and Oman on establishing an "interim framework" for a temporary maritime corridor through the Strait of Hormuz. According to a joint statement carried by the Oman News Agency, the foreign ministers of both countries discussed the plan, with Iranian officials stating an intent to negotiate a permanent corridor within 30 to 60 days.

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