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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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Bakken Wire Morning Briefing Monday, April 20, 2026

1. Headlines

Oil prices are sharply rebounding this morning after a volatile weekend. WTI crude is up 5.92% to $87.48, and Brent is up 5.07% to $94.96, according to price data. The rally follows a 10% plunge on Friday. The stated reason for today's surge is a renewed escalation in the Strait of Hormuz. As reported by both OilPrice.com and Rigzone, the U.S. Navy seized an Iranian-flagged vessel attempting to break the American naval blockade over the weekend. In response, Iran has re-closed the Strait and issued a stark warning, with a senior official stating security for the chokepoint is "not free" if Iran's exports are restricted.

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