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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 Energy Market Briefing Wednesday, June 24, 2026 | Midday Update

1. Headlines

Oil prices are sharply lower today, with Brent crude down over 4% to $73.96 and WTI falling 3.8% to $70.43. According to reports from Rigzone and OilPrice.com, the sell-off is being attributed to two main factors: the continued resumption of tanker traffic through the Strait of Hormuz following the U.S.-Iran ceasefire framework, and market anticipation of additional supply hitting the market. Asian refiners are also reported to be slowing their purchases of Middle Eastern crude after a recent buying spree.

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