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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 Briefing Wednesday, August 19, 2026

1. Headlines

Oil prices are climbing today, with WTI up 1.57% to $85.38 and Brent rising to $92.34. According to multiple reports from OilPrice.com and Rigzone, the primary driver is a significant escalation in Middle East tensions. The United Arab Emirates has halted all trade and financial ties with Iran, accusing Tehran of firing ballistic missiles that landed near its coast. Concurrently, Rigzone reports that three China-linked supertankers have aborted attempts to transit the Strait of Hormuz, signaling shippers are treating the chokepoint as a high-risk zone.

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