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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 Date: Wednesday, April110, 2026

1. Headlines

Oil prices are rallying sharply today, with WTI up over 3.5% to near $93 and Brent surging past $101. According to Rigzone and OilPrice.com, this move comes despite the indefinite extension of the U.S.-Iran ceasefire announced by President Trump late Tuesday, which initially caused a brief price plunge. The ceasefire extension, reported by multiple outlets, has reduced immediate fears of military escalation but leaves the critical Strait of Hormuz under a U.S. naval blockade with no clear path to reopening.

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