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BAKKEN WIRE
The Midday Take - Energy Market Briefing
Global Markets

Energy Market Briefing

Bakken Wire Staff·🔆Midday Wire·
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Daily Energy Market Briefing Monday, April 13, 2026 | Midday Update

1. Headlines

Oil prices are surging sharply today, with both WTI and Brent crude up over 6% to trade above $102 per barrel. According to reports from Rigzone, the primary catalyst is the collapse of high-level U.S.-Iran ceasefire talks over the weekend, followed by a vow from former President Trump to blockade the Strait of Hormuz. Iran responded by threatening to target all ports in and around the Persian Gulf if its own shipping hubs are threatened, as reported by Rigzone.

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