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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 Tuesday, August 11, 2026 | Midday Update

1. Headlines

Oil prices are climbing at midday, with WTI up 1.13% to $83.06 and Brent near $88.59. Headlines from OilPrice.com and Rigzone attribute the gains to persistent Strait of Hormuz tensions, as a deal to reopen the critical oil transit corridor remains elusive. Reports indicate Iranian crude loadings have nearly halted in August, with traffic through the strait sinking to just six vessels on Monday. Concurrently, Rigzone reports the North American rig count dropped by three this week, breaking a multi-week streak of additions.

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