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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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Bakken Wire Midday Market Briefing Saturday, August 15, 2026

1. Headlines

Oil prices are up sharply today, with WTI gaining $1.15 to $82.40 and Brent rising $1.45 to $88.52. According to reports from Rigzone, the rally is being driven by two primary factors: the U.S. threat to unveil "unprecedented" new sanctions on Iran, and continued supply uncertainty stemming from the ongoing blockade of the Strait of Hormuz. Treasury Secretary Scott Bessent stated the sanctions are part of a "one-two punch" alongside the port blockade.

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