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·

Daily Energy Market Briefing Monday, May 11, 2026

1. Headlines

Oil prices are rallying sharply this morning, with WTI up 2.71% to $98.01 and Brent nearing $104. The immediate catalyst, according to reports from Rigzone and OilPrice.com, is the rejection by U.S. President Donald Trump of Iran's response to a U.S. peace proposal. Traders, as cited by Zaye Capital Markets' Naeem Aslam, are adding back a geopolitical risk premium on fears the Strait of Hormuz closure will be prolonged. Concurrently, shipping data reported by Rigzone shows erratic vessel signals in the Persian Gulf, indicating heightened electronic warfare or spoofing activity, which underscores ongoing regional instability.

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