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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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Energy Market Briefing Wednesday, May 13, 2026 | Midday Update

1. Headlines

Oil markets are in a holding pattern today, with WTI crude essentially flat at $102.19 and Brent crude down 1.13% to $106.55, according to midday pricing. The modest retreat in Brent is attributed to reports that a temporary U.S. sanctions waiver on Russian oil cargoes has been extended through May 16, as noted by OilPrice.com. The ongoing closure of the Strait of Hormuz due to the Iran conflict continues to provide a firm floor under prices, with Rigzone reporting fears of "prolonged supply disruptions."

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