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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 30, 2026

1. Headlines

Oil prices are trading lower today, with WTI down 1.23% to $69.88 and Brent at $73.45, despite ongoing tensions in the Strait of Hormuz. Headlines from OilPrice.com and Rigzone present a conflicted narrative: one warns of a "summer of volatility" as Iran dictates new transit routes and traffic slows, while another declares prices are headed for the "biggest quarterly drop since the pandemic" as the market strips out geopolitical risk. The quarterly decline is cited as over 30% for Brent.

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