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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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Date: Wednesday, September 2, 2026

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Today’s energy markets are focused on persistently high oil prices and the downstream pressure on fuel markets. Oil held near a five-week high, with WTI closing at $90.67 (+0.5%) and Brent at $95.24 (+0.62%), as renewed fighting between the U.S. and Iran raised fresh concerns over exports through the Strait of Hormuz (Rigzone). The main downstream story is diesel, with U.S. retail prices advancing to the highest level since an April peak during the initial phase of the U.S.-Iran war (Rigzone, OilPrice.com). AAA data shows the nationwide average at $5.69 per gallon, just below its April peak.

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