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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 Market Briefing - July 21, 2026

1. Headlines

Crude oil prices surged to multi-week highs today. WTI is trading at $84.31 (+$1.83) and Brent at $91.15 (+$1.93), according to mid-day data. The primary catalyst, as reported by OilPrice.com and Rigzone, is a new front in the Middle East conflict. Yemen's Houthi rebels have declared an immediate maritime embargo on Saudi Arabia, threatening ships loading at Saudi ports. This has reportedly forced at least two Saudi crude tankers bound for Asia to make U-turns in the Red Sea.

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