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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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Midday Energy Market Briefing Wednesday, July 29, 2026

1. Headlines

Oil prices are surging sharply in today’s session. As of midday, WTI crude is up over 7% to $85.13, while Brent has surpassed $90. The primary catalyst cited across financial media, including OilPrice.com and Rigzone, is a significant escalation in Middle East hostilities. President Trump stated the U.S. “will strike Iran hard” following an attack on a base in Jordan, and reports confirm U.S.-Saudi airstrikes against Iran-aligned militias in Iraq. Markets are reacting to the direct threat to regional stability and oil infrastructure.

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