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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 Wednesday, May 27, 2026 | Midday Update

1. Headlines

Oil prices are sharply lower today, with WTI crude down nearly 4% to trade at $90.23 and Brent at $93.66. The sell-off is widely attributed by financial press to renewed optimism around a potential diplomatic deal to reopen the Strait of Hormuz, easing fears of prolonged supply disruption. Natural gas is a notable outlier, rising 3.7% to $3.12/MMBtu. Macquarie strategists, cited by Rigzone, forecast a week-on-week draw in U.S. crude inventories ahead of tomorrow's EIA data release.

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