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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 Tuesday, May 19, 2026

1. Headlines

Oil prices are retreating slightly today, with Brent crude down just over 1% to trade near $110.94 and WTI hovering around $103.89. The primary reason cited across financial and energy press, including OilPrice.com and Rigzone, is a temporary de-escalation in the U.S.-Iran conflict. President Trump announced he is delaying a planned military strike to allow negotiations to continue, easing immediate fears of a supply shock. Concurrently, the White House extended a 30-day sanctions waiver for "vulnerable countries" to purchase Russian crude, adding a minor bearish pressure.

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