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 / 4:06

Afternoon Energy Market Briefing For Bakken Wire | Wednesday, October 28, 2026

1. Headlines

Oil prices are higher today, with WTI crude closing above $101 and Brent crude near $110.57. According to OilPrice.com, UBS has raised its Brent forecast to $110 per barrel by year-end, citing an undersupplied market, sharply lower global inventories, and continued disruptions in the Middle East despite a recovery in Gulf flows. The bank notes that pledged strategic reserve releases are largely complete.

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

Global Energy Shifts Challenge Bakken's Long-Term Outlook

Solar power generation surpassed nuclear power globally in 2025, a shift with long-term implications for fossil fuel demand, including for Bakken crude. According to OilPrice.com, solar produced 13 percent more energy worldwide than nuclear last year, a stunning reversal from a decade prior. The growth is driven by plummeting costs; solar photovoltaic panel prices have fallen 90 percent since 2010. “Solar plus storage is now routinely cheaper than new fossil plants in sunny regions,” Jan Rosenow, a professor at the University of Oxford, was quoted by the BBC in the report. Advances in battery technology are mitigating solar's intermittency, making it a more secure and increasingly dominant source of new electricity generation globally. This trend toward the cheapest new energy capacity could gradually pressure the long-term demand trajectory for oil-producing regions like the Bakken. Simultaneously, a major shift in global natural gas markets is unfolding, as reported by OilPrice.com. Russia...

🌅Afternoon Wire·Oct 28
The Midday Take - Energy Market Briefing
Global Markets

Energy Market Briefing

Date: Wednesday, October 28, 2026 1. Headlines Oil prices are rallying sharply today. WTI crude is up 3.48% to $103.38, while Brent crude has gained 2.82% to $112.50, according to midday price data. This move higher coincides with the latest U.S. government inventory report. The U.S. Energy Information Administration (EIA) reported a 1.9 million barrel draw in commercial crude oil inventories for the week ending October 23, bringing stockpiles to 4% below the five-year average for this time of year. The reported draw was closely aligned with the prior day’s estimate from the American Petroleum Institute (API). Elsewhere, a report from OilPrice.com, citing UBS data, states that Russian crude oil exports remain resilient, only about 10% below pre-war levels despite Western sanctions, with 61% now moving on a "shadow fleet" of tankers. Concurrently, another OilPrice.com report details that a U.S. naval blockade in the Gulf of Oman has stranded at...

🔆Midday Wire·Oct 28
Russian Export Resilience, China Shifts Shape Global Oil Dynamics - Bakken Wire
Global Markets

Russian Export Resilience, China Shifts Shape Global Oil Dynamics

Russian crude oil exports have proven resilient to Western sanctions, remaining only about 10% below pre-war levels, according to new data from UBS. The Swiss bank's chief economist, Arend Kapteyn, stated, "The most visible effect of the restrictions on Russia's oil exports seems to have been to redistribute the global supply of oil." An estimated 61% of this oil now moves on a "shadow fleet" of tankers operating outside Western insurance and financing systems. The destination of Russian oil has radically shifted, the UBS note shows. The European Union's share of Russian crude exports collapsed from 48% before the war to just 4% by September. Meanwhile, the combined share purchased by China, India, and Turkey jumped from 29% to 77%. This sustained supply from Russia, alongside disruptions in the Strait of Hormuz, continues to contribute to global market volatility. Concurrently, Asia's largest oil and gas producer, PetroChina, reported a 21.6%...

🔆Midday Wire·Oct 28