Bakken Oil Prices Climb on Wednesday Morning

Oil prices moved higher in early trading on Wednesday, November 11, 2026, providing a positive signal for Bakken producers. West Texas Intermediate (WTI) crude was trading at $87.29 per barrel, a gain of $1.25 or 1.45%. The international benchmark Brent crude rose to $93.30, up $1.81 or 1.98%.

The Bakken oil price differential, a critical metric for North Dakota operators, stood at -$3.42 per barrel versus WTI. This means Bakken crude is priced at approximately $83.87 per barrel based on the current WTI price and differential. Natural gas prices also saw a modest increase, trading at $3.33 per million British thermal units, up $0.03.

Today's gains follow a period of downward pressure. According to Rigzone, crude prices had extended their decline on Tuesday, November 10, as diplomatic hopes for conflict resolution and recovering oil flows from the Persian Gulf weighed on the market. The article, published late Tuesday, highlighted that these factors contributed to a retreat in prices.

The rebound suggests the market is balancing geopolitical risk premiums against fundamental supply and demand signals. For Bakken operators, the current price environment, with WTI sustaining a level above $87, supports continued drilling and completion activity in the Williston Basin. The relatively narrow differential of -$3.42 indicates strong market access and demand for the region's light, sweet crude.

Natural gas pricing, while a secondary revenue stream for many Bakken wells, remains a supportive factor at current levels. The simultaneous increase in both crude and natural gas prices provides a dual boost to operator cash flows.

The price action will be closely watched by royalty owners and service companies across North Dakota, as it directly impacts state tax revenue, royalty checks, and oilfield employment. The Bakken formation remains the state's primary oil-producing region, and price stability near current levels is crucial for maintaining production volumes.

Market participants are likely monitoring inventory reports and ongoing geopolitical developments for further direction. The contrast between Tuesday's diplomatic-driven retreat and Wednesday morning's rally underscores the current volatility and sensitivity of oil markets to headline news.