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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 June 1, 2026

1. Headlines

Oil prices surged over 3% this morning, with WTI breaking above $90 and Brent nearing $94. The immediate catalyst cited by OilPrice.com and Rigzone is a delay in the Iran peace deal. President Trump reportedly sent a draft agreement back for revisions, specifically demanding stronger language on Iran’s nuclear commitments and explicit provisions for reopening the Strait of Hormuz. This contradicts earlier optimism from Washington and signals negotiations could drag on for "at least another week," keeping a key chokepoint for global oil flows constrained.

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