WTI Crude--
Brent Crude--
Natural Gas--
ND Rig Count--
WTI Crude--
Brent Crude--
Natural Gas--
ND Rig Count--
BAKKEN WIRE
The Afternoon Take - Energy Market Briefing
Global Markets

Energy Market Briefing

Bakken Wire Staff·🌅Afternoon Wire·
Listen
0:00 / 3:26

Energy Market Briefing Friday, September 4, 2026

1. Headlines

Oil prices held near multi-month highs today, with Brent crude edging up 0.28% to $95.79 while WTI was virtually flat at $91.20, according to Rigzone. The market ended a volatile week 9.7% higher, which Rigzone attributes to renewed U.S.-Iran fighting keeping supply risks through the Strait of Hormuz elevated. Supporting prices, the U.S. Energy Information Administration (EIA) reported a weekly drawdown in crude oil inventories, excluding the Strategic Petroleum Reserve, to 424.5 million barrels as of August 28.

Create a free account to continue reading

Sign up for free to get full access to Bakken Wire's daily energy market analysis, audio briefings, and more.

Create Free Account

Already have an account? Sign in

Share this article

PostShareShareEmail

Related Articles

Global Markets

Ukraine Presses US Congress for Russia Sanctions Bill as House Calendar Shrinks

A sweeping U.S. sanctions bill targeting Russia faces a compressed timeline in the House of Representatives, creating uncertainty for global oil markets that influence Bakken crude prices. According to a report from OilPrice.com, Ukrainian sanctions commissioner Vladyslav Vlasiuk spent this week in Washington pressing Congress to advance the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 before lawmakers recess for the November elections. The legislation, which passed the Senate on August 7 by an 86-11 vote, would grant the president additional authority to impose punitive tariffs on countries that continue buying Russian fossil fuels. For Bakken operators, such measures could tighten global supply by further restricting Russian oil flows, potentially providing support for international benchmark prices that North Dakota crude prices follow. However, the bill's path in the House has grown more complicated. Republican leaders announced on September 3 that the final two weeks of the pre-election House...

🌅Afternoon Wire·Sep 4
The Midday Take - Energy Market Briefing
Global Markets

Energy Market Briefing

Date: Friday, September 4, 2026 1. Headlines Crude oil prices are mixed in a tight range today, with WTI down 0.44% to $90.90 and Brent slightly up to $95.58, according to price data. The U.S. Energy Information Administration (EIA) reported a weekly draw in crude oil inventories, with stocks, excluding the Strategic Petroleum Reserve, at 424.5 million barrels as of August 28. A report from Rigzone notes that despite fresh strikes involving Iran, which have provided support, prices are being offset by signals of easing market tightness. Geopolitical and trade tensions are prominent in today's news. According to a report from OilPrice.com citing unnamed sources, some Chinese rare earth producers have frozen exports to the United States weeks before an expected summit between Presidents Xi and Trump. Elsewhere, analysts at BMI, cited by Rigzone, still expect a preliminary U.S.-Iran deal to reopen the Strait of Hormuz by the end of...

🔆Midday Wire·Sep 4
Global Markets

China Rare Earth Export Freeze Raises Supply Chain Risks for Bakken Tech

Some Chinese rare earth producers have frozen exports to the United States, raising new supply chain concerns for technologies used across the Bakken oilfield. According to a report from OilPrice.com citing Reuters sources, the freeze began in early August despite the firms having valid export licenses. The action stems from fears of punishment by Chinese authorities for complying with international due diligence standards. The Chinese government recently placed the Responsible Business Alliance (RBA) and its Responsible Minerals Initiative (RMI) on a countermeasure list. Firms are wary of being entangled in the geopolitics between the U.S. and China, according to the sources. This renewed trade standoff comes weeks before a scheduled summit between Chinese President Xi Jinping and U.S. President Donald Trump at the end of September 2026. The freeze highlights the concentrated and fragile nature of the global critical minerals market, upon which advanced industries heavily rely. The International Energy...

🔆Midday Wire·Sep 4