WTI Crude$--/bbl▲ +0.00 (+0.00%)
Brent Crude$--/bbl▲ +0.00 (+0.00%)
Natural Gas$--/MMBtu▲ +0.00 (+0.00%)
ND Rig Count--▲ +0 WoW
WTI Crude$--/bbl▲ +0.00 (+0.00%)
Brent Crude$--/bbl▲ +0.00 (+0.00%)
Natural Gas$--/MMBtu▲ +0.00 (+0.00%)
ND Rig Count--▲ +0 WoW
BAKKEN WIRE
The Midday Take - Energy Market Briefing
Global Markets

Energy Market Briefing

Bakken Wire Staff·🔆Midday Wire·

Bakken Wire Energy Briefing Tuesday, July 14, 2026 | Midday Update

1. Headlines

Oil prices are surging today as the U.S.-Iran ceasefire has fully collapsed, reigniting fears of a major supply disruption. According to multiple reports from OilPrice.com and Rigzone, U.S. missile strikes on Iranian targets and Iran’s retaliatory attacks on Gulf states have led to a reinstated U.S. naval blockade in the Strait of Hormuz. OilPrice.com reports vessel traffic through the critical chokepoint has fallen by roughly 50%. This has sent Brent crude above $85 and WTI near $80, with both benchmarks posting their largest single-day gains in years on Monday.

Create a free account to continue reading

Sign up for free to get full access to Bakken Wire's daily energy market analysis, audio briefings, and more.

Create Free Account

Already have an account? Sign in

Share this article

PostShareShareEmail

Related Articles

Global Tensions Spike Oil, Venezuela Seeks Revival, Vedanta Plans $5B Spend - Bakken Wire
Global Markets

Global Tensions Spike Oil, Venezuela Seeks Revival, Vedanta Plans $5B Spend

A dramatic escalation in the Iran conflict sent oil prices and global borrowing costs sharply higher on Tuesday, according to OilPrice.com. The collapse of a fragile ceasefire led to a third night of exchanged strikes, with the U.S. reinstating a blockade in the Strait of Hormuz. This triggered Brent crude to jump more than nine percent in a single session on Monday—its biggest daily gain since May 2020. The geopolitical risk premium returned forcefully, with the UK's 10-year government bond yield climbing to a five-month high. Analysts noted UK borrowing costs are especially exposed to the war due to the country's heavy reliance on imported energy and stubborn inflation, according to OilPrice.com. The surge in oil prices and bond yields presents immediate headwinds for global economic stability. Separately, Venezuela's upstream sector is entering a new phase focused on operational execution following 2026 policy reforms, OilPrice.com reported. Rystad Energy estimates the...

🔆Midday Wire·Jul 14
Brent Tops $87 as Middle East, Black Sea Conflicts Fuel Supply Fears - Bakken Wire
Global Markets

Brent Tops $87 as Middle East, Black Sea Conflicts Fuel Supply Fears

A rapid escalation of geopolitical conflicts in the Middle East and Black Sea has sent global oil prices soaring, abruptly ending recent market talk of oversupply. The dual crises are tightening global supply fears, providing a significant boost to the price outlook for Bakken crude. On Tuesday, July 14, ICE Brent crude for September delivery surged 4.4% to trade at $87.17 per barrel, while WTI crude jumped 3.7% to $81.10, according to OilPrice.com. The rally marks a nearly 15% increase since Friday, driven by escalating violence in key shipping lanes. In the Middle East, renewed U.S.-Iran hostilities—dubbed the July 2026 Battle of Hormuz—have pushed Brent above $85. Iranian missile strikes on two UAE supertankers in the Strait of Hormuz and the closure of the vital waterway by Iran have revived fears of a global oil shortage, flipping the recent oversupply narrative. All global benchmarks are now in steep backwardation, OilPrice.com...

🔆Midday Wire·Jul 14
The Morning Take - Energy Market Briefing
Global Markets

Energy Market Briefing

Bakken Wire: Energy Market Briefing Tuesday, July 14, 2026 1. Headlines Oil prices are surging this morning following a significant military escalation in the Strait of Hormuz. Brent crude is up 3.47% to $86.19, and WTI is up 2.16% to $79.83, according to market data. The immediate catalyst is an Iranian attack on two UAE-flagged Very Large Crude Carriers (VLCCs) in the southern shipping lane, which killed one crew member and injured eight others. The UAE Ministry of Defense confirmed the attack, and ADNOC Logistics & Services reported significant damage to the vessels, the Al Bahyah and the Mombasa. Concurrently, multiple reports from OilPrice.com detail the ongoing flow of Iranian oil despite a renewed U.S. naval blockade. Vessel-tracking data compiled by Bloomberg indicates Iran moved an estimated 12 million barrels in the week after a short-lived U.S. waiver ended on July 7. Iranian Oil Minister Mohsen Paknejad stated the country's...

☀️Morning Wire·Jul 14
Free