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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 Sunday, May 17, 2026

1. Headlines

Oil prices surged sharply in Friday's session, with WTI closing above $101 per barrel, a gain of over 4%. Brent crude followed, settling near $109. The move, reported by Rigzone, is attributed to traders focusing on tightening crude supplies and fragile Middle East ceasefire conditions. The U.S. rig count, per Baker Hughes data via OGJ, posted a modest weekly gain of 3 units to 551, driven by a 5-rig increase in oil-directed activity, with Texas leading the gains.

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