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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 Energy Briefing

Wednesday, May 13, 2026

1. Headlines

Oil prices are consolidating after recent gains, with WTI trading at $101.83 and Brent at $107.70. The minor pullback comes after yesterday's sharp rally, which Rigzone attributed to renewed fears of prolonged supply disruptions in the Persian Gulf. The market is digesting a stark warning from shipping giant Norden, which is now planning for the Strait of Hormuz to remain effectively shut for the rest of the year.

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