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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 Friday, August 21, 2026

1. Headlines

Oil prices are holding near multi-week highs, with Brent crude trading just over $94 per barrel and WTI hovering around $86.85. According to reports from OilPrice.com and Rigzone, the primary driver is escalating geopolitical risk from the U.S.-Iran conflict. New U.S. threats of an "Economic D-Day" campaign against Iran, including penalties for countries that trade with it, are pushing the market. Concurrently, Reuters-cited data from Kpler shows the U.S. maritime blockade is having a tangible effect, with Chinese imports of Iranian crude dropping significantly in August.

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