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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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Bakken Wire Midday Energy Briefing Sunday, April 19, 2026

1. Headlines

Oil prices are in freefall this morning, with WTI down over 9% to $82.59 and Brent near $90.38. The crash is directly attributed to Iran’s Foreign Minister announcing the Strait of Hormuz is now "completely open" for commercial shipping for the duration of a new 10-day ceasefire between Israel and Hezbollah (Rigzone, Bloomberg). President Trump confirmed the move, stating the strait is "FULLY OPEN AND READY FOR FULL PASSAGE." The market is interpreting this as a major step toward ending the seven-week U.S.-Iran conflict that had choked off roughly 20% of global seaborne oil supply.

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