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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 May 1, 2026

1. Headlines

Oil prices are consolidating after a volatile week driven by geopolitical risk. WTI is trading at $104.22, down 0.81% on the day, while Brent holds above $110 at $110.91. The Bakken differential to WTI is -$3.42. The primary market mover is the escalating U.S.-Iran standoff, with Iran warning oil could spike to $140 per barrel if the American blockade of the Strait of Hormuz continues (OilPrice.com). Iran's Supreme Leader stated the only place for the U.S. in the Persian Gulf is "at the bottom of its waters."

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