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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 Midday Energy Market Briefing

Wednesday, July 1, 2026

1. Headlines

Oil prices are down sharply at midday, with WTI trading at $68.06 (-2.07%) and Brent at $71.10 (-2.54%). The sell-off continues a softening trend noted by analysts like Standard Chartered’s Emily Ashford, who cites the return of easy barrels outpacing demand recovery. According to Rigzone reporting, the increase in crude shipping through the Strait of Hormuz is a key pressure point.

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