WTI Crude$--/bbl▲ +0.00 (+0.00%)
Brent Crude$--/bbl▲ +0.00 (+0.00%)
Natural Gas$--/MMBtu▲ +0.00 (+0.00%)
ND Rig Count--▲ +0 WoW
WTI Crude$--/bbl▲ +0.00 (+0.00%)
Brent Crude$--/bbl▲ +0.00 (+0.00%)
Natural Gas$--/MMBtu▲ +0.00 (+0.00%)
ND Rig Count--▲ +0 WoW
BAKKEN WIRE
The Morning Take - Energy Market Briefing
Global Markets

Energy Market Briefing

Bakken Wire Staff·☀️Morning Wire·

Bakken Wire Morning Briefing Thursday, May 7, 2026

1. Headlines

Oil prices are volatile and sharply lower this morning. As of this briefing, WTI crude is trading at $91.98, down 3.26% (-$3.10), while Brent sits at $98.13, down 3.1% (-$3.14). According to multiple reports from OilPrice.com and Rigzone, the sell-off follows a steep 7% drop yesterday, driven by market hopes that the U.S. and Iran could be moving toward a diplomatic agreement. Traders are reacting to signals that a deal could eventually lead to the reopening of the Strait of Hormuz, a critical global oil chokepoint that has been blocked since late February.

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