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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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Bakken Wire Daily Briefing Friday, June 19, 2026

1. Headlines

Oil prices are slightly higher midday but remain under pressure, with WTI trading at $76.61 and Brent at $80.63. According to multiple reports from OilPrice.com and Rigzone, this week's significant price drop is attributed to the market's bet on a sustained reopening of the Strait of Hormuz following a U.S.-Iran ceasefire. Despite a slow initial exodus of trapped tankers, the market is pricing in a return of Middle Eastern supply. Rigzone notes that shipping activity in the strait is accelerating, with empty Iranian vessels heading in and stranded crude beginning to move out.

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