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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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Energy Market Briefing Thursday, April 16, 2026 | Midday Update

1. Headlines

Oil prices are rallying sharply today, with Brent Crude up 3.77% to $98.51 and WTI up 2.64% to $90.46. According to Rigzone, prices are holding firm as the market digests a pullback from recent highs, supported by a reported U.S. crude inventory draw of nearly 1 million barrels last week. The price move is widely attributed to escalating geopolitical tensions, specifically new supply disruptions.

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