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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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Morning Energy Market Briefing

Monday, May 18, 2026

1. Headlines

Oil prices are consolidating near multi-year highs this morning, with WTI trading at $100.75 and Brent at $109.11. The slight pullback follows a surge late last week as traders focus on tightening supplies and fragile conditions in the Middle East, according to Rigzone. The key data point driving today’s narrative is from OilPrice.com, which reports that Chinese refiners slashed crude runs to their lowest level since August 2022. Throughput fell 5.8% year-on-year in April to 13.3 million barrels per day, with imports plummeting by 2.4 million bpd.

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