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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 Energy Market Briefing Tuesday, April 21, 2026 | Midday Update

1. Headlines

Oil prices are rallying sharply today with Brent crude approaching $93 and WTI near $90, up roughly 2.7%. The move is almost universally attributed to geopolitical tension as a two-week ceasefire between the U.S. and Iran is set to expire tomorrow evening. OilPrice.com reports President Trump has warned against extending the truce, and Rigzone notes talks have hit an impasse, specifically on guaranteed access to the Strait of Hormuz. The market is pricing in a significant risk premium, with analysts cited by OilPrice.com flagging the potential for a spike toward $100 per barrel if the conflict reignites.

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