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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 Market Briefing Monday, August 31, 2026

1. Headlines

Oil prices are sharply higher today, with WTI crude up 2.39% to $85.39 and Brent crude up 2.38% to $88.17. The primary driver being reported is a resurgence of geopolitical risk in the Middle East. According to multiple sources, U.S. forces struck Iranian rocket launchers on Larak Island in the Strait of Hormuz on Sunday, marking the first such attack in over a month. Iran later claimed retaliatory strikes on U.S. bases in Jordan. A U.S. Central Command spokesperson, cited by Rigzone and OilPrice.com, stated the U.S. action was taken after the Iranian Islamic Revolutionary Guard Corps (IRGC) were observed preparing to launch rockets with sea mines into the critical waterway.

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