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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 Energy Briefing Saturday, October 17, 2026

1. Headlines

Oil prices are sharply higher today, with Brent crude surging past $110 per barrel and WTI nearing $100. According to Rigzone, Brent hit $109.86, a gain of $3.94, while WTI rose $2.52 to $99.02. The reported drivers are mounting supply risks, particularly from the ongoing conflict affecting the Strait of Hormuz, and a significant draw in U.S. crude stocks. A Rigzone report states commercial crude inventories fell by almost 9 million barrels last week.

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