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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 Sunday, June 14, - 2026

1. HEADLINES

Oil prices are down sharply to a four-month low today. West Texas Intermediate (WTI) crude is trading at $84.88, down 3.23%, with Brent crude at $87.33, down 3.37%. The primary driver cited across financial media, including Rigzone and OilPrice.com, is a significant geopolitical de-escalation. President Trump announced a potential peace agreement with Iran is close and canceled threatened military strikes. This has sparked market hopes for a reopening of the Strait of Hormuz, a critical global oil chokepoint that has been effectively closed, and a potential influx of Iranian barrels.

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