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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 BRIEFING Monday, May 11, 2026

1. Headlines

Oil prices surged sharply higher in Monday trading. As of midday, WTI crude is at $98.01, up $2.59 (2.71%), and Brent crude is at $104.06, up $2.77 (2.73%). The immediate catalyst, widely reported by sources including OilPrice.com and Rigzone, is U.S. President Donald Trump's public rejection of Iran's response to a U.S. peace proposal. Trump called the terms "totally unacceptable," dashing hopes for a near-term ceasefire and reopening the risk of escalated conflict.

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