WTI Crude--
Brent Crude--
Natural Gas--
ND Rig Count--
WTI Crude--
Brent Crude--
Natural Gas--
ND Rig Count--
BAKKEN WIRE
The Midday Take - Energy Market Briefing
Global Markets

Energy Market Briefing

Bakken Wire Staff·🔆Midday Wire·
Listen
0:00 / 4:14

Daily Energy Market Briefing Friday, September 11, 2026

1. Headlines

Oil prices are retreating from recent highs today but remain elevated in a volatile geopolitical market. As of midday, WTI crude is trading at $99.62, down 2.79%, while Brent is at $105.05, down 2.4%. The Bakken differential to WTI is -$3.42. This pullback follows yesterday's surge where Brent exceeded $107, as reported by Rigzone, driven by escalating Middle East tensions. The direct news today centers on a significant downward revision in global oil demand. The International Energy Agency (IEA) has slashed its 2026 demand forecast, now expecting consumption to fall by 2.5 million barrels per day, a sharp cut from its August forecast of a 1.6 million bpd contraction, according to both OilPrice.com and Rigzone.

Create a free account to continue reading

Sign up for free to get full access to Bakken Wire's daily energy market analysis, audio briefings, and more.

Create Free Account

Already have an account? Sign in

Share this article

PostShareShareEmail

Related Articles

IEA Projects Deeper 2026 Supply Crunch, Demand Destruction Amid Gulf Woes - Bakken Wire
Global Markets

IEA Projects Deeper 2026 Supply Crunch, Demand Destruction Amid Gulf Woes

The International Energy Agency (IEA) has significantly worsened its 2026 global oil supply and demand outlook, projecting a sharper supply plunge and increased demand destruction that will define the volatile market for Bakken crude. In a report released Friday, September 11, the agency said global oil supply is now expected to fall by 5.7 million barrels per day (bpd) this year, a steeper drop than the 4.3-million-bpd decline forecast just a month ago. A key driver is the prolonged disruption in the Middle East. The IEA no longer expects normal Gulf supply flows to return in 2026, pushing that recovery into 2027. This sustained shortage from a key global supply region provides underlying structural support for oil prices, which directly benefits the breakeven economics for North Dakota's Bakken shale wells. The supply drop is already severe. According to the IEA report, Saudi Arabia's crude supply plunged 2.3 million bpd in...

🔆Midday Wire·Sep 11
The Morning Take - Energy Market Briefing
Global Markets

Energy Market Briefing

Energy Market Briefing for Bakken Wire Friday, September 11, 2026 1. Headlines Oil prices are retreating from multi-month highs this morning, with WTI trading at $99.1 per barrel, down $3.38 (-3.3%), and Brent at $103.84, down $3.79 (-3.52%), according to price data. This pullback follows a significant rally that pushed Brent above $107 earlier in the week, as reported by Rigzone. The stated catalyst for the recent surge was escalating Middle East tensions, specifically a plunge in visible shipping traffic through the critical Strait of Hormuz. Data from Kpler, cited by OilPrice.com, shows only seven vessels transited the strait in the past 24 hours, down from a recent average of 15. The physical market is showing extreme tightness in refined products. GasBuddy reported that the U.S. national average price for diesel fuel topped $6 per gallon for the first time ever on Thursday, a fact also noted by Rigzone. Analysts...

☀️Morning Wire·Sep 11
Global Markets

Strait of Hormuz Traffic Crashes, China EV Shift Accelerates

Global oil markets are being pulled in opposite directions by escalating Middle East conflict and a structural shift in demand from China, creating a volatile outlook for Bakken crude prices. Shipping traffic through the critical Strait of Hormuz plunged to single digits on Thursday, according to Reuters and preliminary data from Kpler. Only seven vessels transited the strait in the past 24 hours, a sharp drop from the recent 10-day average of 15. The data, which tracks ships with positioning systems on, suggests "dark transits" are higher as operators switch off systems to avoid detection amid strikes on tankers. The re-escalation of hostilities has made owners and exporters increasingly cautious. Oil prices jumped above $100 per barrel this week and were on track early Friday to end a trading week above that mark for the first time since May, OilPrice.com reported. “Oil’s resilience reflects a market now repricing both the...

☀️Morning Wire·Sep 11