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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 20, 2026

1. Headlines

Oil prices are surging to start the week, with WTI up over 6% to $87.58 and Brent nearing $96. The primary driver cited by financial outlets, including OilPrice.com and Rigzone, is a sharp escalation in U.S.-Iran tensions. The Strait of Hormuz is at a "virtual standstill" again after a brief reopening, with Rigzone reporting the U.S. seized an Iranian vessel over the weekend. President Trump’s social media posts, threatening to destroy Iranian infrastructure if a deal isn’t reached, are directly referenced as a market catalyst. A temporary ceasefire is set to expire Wednesday.

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