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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: Sunday, May 31, 2026

1. Headlines

Oil prices are trading lower to start the week, with both WTI and Brent down over 1.7%. WTI is at $87.36, settling at a six-week low, according to Rigzone. The stated reason is that traders are betting on a potential reopening of the Strait of Hormuz as ceasefire negotiations between the U.S. and Iran continue, based on a tentative 60-day truce extension reported by a single unnamed source to Rigzone.

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