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·

Energy Market Briefing Tuesday, May 12, 2026

1. Headlines

Oil prices surged over 3% today, with WTI closing above $101 and Brent above $107. According to reports from Rigzone, the rally is driven by deepening fears that the U.S.-Iran ceasefire is collapsing, which would prolong the closure of the Strait of Hormuz. President Trump was quoted by Rigzone stating the ceasefire is on "massive life support."

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