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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 ENERGY BRIEFING Monday, August 3, NA

1. Headlines

Oil prices are sharply lower to start the week. As of midday, WTI crude is trading at $79.66, down $5.01 (-5.92%), while Brent is at $83.76, down $4.17 (-4.74%). According to multiple reports from OilPrice.com and Rigzone, the sell-off is a direct reaction to President Trump’s announcement over the weekend that he called off a planned military strike on Iranian energy sites and that new talks with Iran would begin this week. This has sparked a wave of market optimism that a diplomatic path could reopen the Strait of Hormuz.

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