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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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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.

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