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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 For Bakken Wire — Tuesday, June 16, 2026

1. HEADLINES

Oil markets are sharply lower this morning, continuing a multi-day slide triggered by a geopolitical breakthrough. As of this morning, WTI crude is trading at $77.26, down 2.74%, while Brent crude is at $80.83, down 2.81%. The move follows reports that the U.S. and Iran have agreed to an interim deal aimed at reopening the Strait of Hormuz, a critical global oil chokepoint (Rigzone, OilPrice.com). Bank analysts are reacting swiftly: Morgan Stanley and Goldman Sachs have both cut their oil price forecasts for late 2026 and 2027, citing expectations for a recovery in tanker flows and higher Iranian exports. Citi took an even more bearish stance, projecting Brent to fall to an average of $70 per barrel in Q4 2026 (OilPrice.com).

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