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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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Daily Energy Briefing for Bakken Wire Saturday, October 31, 2026

1. Headlines

Oil prices closed the week with significant gains. WTI crude settled at $104.12, up 2.08% or $2.12, while Brent crude rose 2.37% to $113.43, according to price data. Rigzone reports these gains are occurring amid uncertainty over U.S. strategy in Iran, with traders gauging Washington's appetite for renewed military escalation. The market is also reacting to a confirmed drawdown in U.S. crude inventories; the EIA reported commercial stocks, excluding the SPR, fell to 410.625 million barrels for the week ending October 23.

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