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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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Energy Market Briefing Sunday, October 18, 2026

1. Headlines

Oil prices are sharply higher today, with Brent crude pushing above $109 per barrel and WTI nearing $99, according to price data. Mainstream reports from Rigzone attribute the surge to mounting Middle East supply risks and a significant drawdown in U.S. commercial crude inventories, which fell by almost 9 million barrels last week. The International Energy Agency (IEA) has announced member countries agreed to complete the release of 100 million barrels of oil still outstanding from a March intervention, and will begin releasing more than 20 million barrels of diesel from collective inventory to address tight fuel supplies.

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