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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 | Tuesday, October 20, 2026

1. Headlines

Oil prices are retreating slightly from recent highs in today’s session. As of this writing, WTI crude is trading at $98.25, down $0.29 (-0.29%), while Brent crude is at $109.16, down $0.39 (-0.36%). The Bakken differential to WTI is -$3.42. Market reporting focuses on persistent inflationary pressures driven by energy costs. OilPrice.com reports that recent CPI data shows gasoline prices are up 34.2% and fuel oil up 74.2% over the last 12 months, which analysts are directly linking to the ongoing war with Iran and volatility in the Strait of Hormuz.

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