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BAKKEN WIRE
The Morning Take - Energy Market Briefing
Global Markets

Energy Market Briefing

Bakken Wire Staff·☀️Morning Wire·
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Date: Sunday, April 19, 2026

1. Headlines

Oil prices are in a state of extreme volatility. As of this morning, WTI is down over 9% to $82.59, with Brent at $90.38, following a dramatic sell-off on Friday. The primary catalyst, reported by Bloomberg via Rigzone and others, was Iran's Foreign Minister announcing the Strait of Hormuz is "completely open" for commercial shipping. This statement was tied to a 10-day ceasefire between Israel and Hezbollah, fueling market optimism that the seven-week U.S.-Iran conflict may be nearing a diplomatic end. President Trump hailed the move, stating the strait is "FULLY OPEN."

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