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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 | FRIDAY, JUNE 26, 2026

1. Headlines

Oil prices are sharply lower today, with both WTI and Brent crude down over 4%. According to Rigzone, the sell-off is primarily driven by two confirmed developments: the tentative reopening of the Strait of Hormuz and a resulting surge in Middle Eastern crude supply. A Reuters survey of industry sources indicates Saudi Aramco is expected to slash its Official Selling Prices for Asian customers in August by $6.50 to $8.00 per barrel, a move that would bring its Arab Light crude to its lowest premium against regional benchmarks in four months.

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