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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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ENERGY MARKET BRIEFING Sunday, August 2, 2026 | Midday Update

1. HEADLINES

Oil prices are advancing to start August, with WTI up 1.29% to $84.67 and Brent gaining 1.22% to breach $90 at $90.12, according to midday pricing data. The move extends July's strong performance, which Rigzone reported as the strongest monthly gain since March, attributed to geopolitical conflicts raising supply concerns. A key driver cited is ongoing Middle East turmoil centered on the U.S. war with Iran, which is disrupting the Strait of Hormuz and supporting prices.

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