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BAKKEN WIRE
The Morning Take - Energy Market Briefing
Global Markets

Energy Market Briefing

Bakken Wire Staff·☀️Morning Wire·

Date: Tuesday, June 2, 2026

Headlines Oil prices are pulling back this morning after a recent surge, with WTI trading at $91.14 (-1.11%) and Brent at $93.91 (-1.13%). According to reports from OilPrice.com and Rigzone, the primary driver is diplomatic noise suggesting a potential ceasefire in Lebanon. President Trump claimed on social media that a deal between Israel and Hezbollah is "within reach," and the Lebanese Embassy in Washington stated Hezbollah had accepted a U.S. proposal for a mutual cessation of attacks. This has prompted a risk-off move in oil, paring back gains driven by fears of a wider Middle East war.

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