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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 Tuesday, June 16, 2026

1. Headlines

Oil prices are in freefall today. WTI crude is down over 5% to $75.27, and Brent has dropped below $80 to $79.06. The catalyst, as reported by OilPrice.com and Rigzone, is the signing of a U.S.-Iran agreement to reopen the Strait of Hormuz and lift the maritime blockade on Iran. This move is rapidly pulling the "war premium" out of the market after a four-month supply disruption. Natural gas is a rare bright spot, up $0.08 to $3.22, with the U.S. Energy Information Administration (EIA) raising its Henry Hub price forecasts for 2026 and 2027.

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