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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 Briefing Thursday, July 16, 2026 | Midday Update

1. Headlines

Oil prices are trading in a tight, uneasy range today. WTI is marginally lower at $79.02, while Brent is flat at $84.95. According to Rigzone, this follows a session where prices rose on heightened U.S.-Iran tensions, but are being capped by weaker U.S. fuel demand data. The U.S. Energy Information Administration (EIA) reported a nearly 2-million-barrel weekly draw in crude stocks, bringing inventories to 409.7 million barrels.

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