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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 BRIEFING Sunday, October 11, 2026

1. Headlines

Oil prices are edging higher in Sunday trading, with WTI at $91.85 and Brent at $104.72, according to price data. The advance is attributed to ongoing war risks in the Middle East and hurricane threats, as reported by Rigzone. The physical market shows extreme tightness, highlighted by record-breaking tanker rates. Data compiled by Bloomberg and reported by OilPrice.com shows supertanker rates from the Persian Gulf to East Asia have soared to $1.4 million per day, a 40% jump in the first week of October alone. This is creating a ripple effect across all vessel classes.

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