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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: Sunday, October 11, 2026 To: Bakken Wire Readers

1. Headlines Today's major coverage focuses on the logistical crisis emerging from the ongoing Middle East conflict, with headlines declaring that an oil crisis has become a shipping crisis. According to OilPrice.com, supertanker freight rates have soared to record levels, hitting $1.4 million per day on the Persian Gulf to East Asia route in early October, a 40% jump from the already-record rates of September. Industry executives, such as Vitol's CEO Russell Hardy, are quoted stating the situation is "very inefficient" and that there is "not quite enough shipping to go around." This is adding tens of millions of dollars in costs to single cargoes.

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