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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 Energy Market Briefing Friday, June 26, 2026

1. Headlines

Oil prices are sharply lower this morning, with WTI down 2.38% to $70.21 and Brent down 2.53% to $73.59. According to reports from OilPrice.com and Rigzone, the sell-off is driven by two primary factors: rising optimism about a U.S.-Iran agreement that could return significant Iranian oil to the market, and a tentative recovery of tanker traffic through the Strait of Hormuz. Traders are seen removing the geopolitical risk premium that had been baked into prices.

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