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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 Thursday, November 5, 2026

1. Headlines

Oil prices staged a sharp rebound today after a brutal midweek selloff. As of this afternoon, WTI crude is at $91.07, up $2.95 (3.35%), and Brent crude is at $99.02, up $4.40 (4.65%). This recovery follows Wednesday's dramatic plunge, where Brent fell 8.7% and WTI fell 8.3% to their lowest settlements since August 31, according to OilPrice.com. The initial selloff was widely attributed by market reports to the Democratic sweep of both chambers of Congress in the U.S. midterm elections, which fueled speculation of increased political pressure on President Trump to end the eight-month war with Iran.

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