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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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Date: Tuesday, August 18, 2026 To: Bakken Wire Readers Subject: Midday Energy Market Briefing

1. Headlines

Oil prices are climbing today, with WTI up 0.94% to $84.53 and Brent rising 0.7% to $91.51, according to midday trading data. The primary driver cited across financial and energy news outlets is escalating geopolitical tension. Rigzone and OilPrice.com report that threats to shipping in the Strait of Hormuz, combined with a statement from former President Trump acknowledging no scheduled U.S.-Iran talks, have renewed supply fears. OilPrice.com notes that Very Large Crude Carrier (VLCC) rates for Middle East-to-Asia voyages have skyrocketed past $500,000 per day as the security situation deteriorates.

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