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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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DAILY ENERGY BRIEFING Thursday, June 11, 2026

1. Headlines

Oil prices are retreating this morning after a volatile session driven by escalating U.S.-Iran hostilities. As of this writing, WTI is down 1.3% to $88.86, and Brent is down 1.46% to $91.74. The sell-off follows a spike in Asian trading after the U.S. launched strikes on multiple targets in Iran for a second consecutive day, and Iran declared the Strait of Hormuz closed again (Rigzone, OilPrice.com). The market is digesting these events alongside a significant 7-million-barrel weekly draw in U.S. commercial crude inventories reported by the EIA, bringing stocks down to 426.5 million barrels (Rigzone).

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