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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 Tuesday, June 30, 2026

1. Headlines

Oil prices are edging higher this morning, with WTI at $70.96 and Brent at $74.23, as markets react to a tentative recovery in tanker traffic through the Strait of Hormuz. According to ship-tracking data from Kpler reviewed by Bloomberg, 24 commodity vessels transited the strait yesterday, a significant increase from the stalled traffic over the weekend. The narrative, as reported by OilPrice.com, is that this has spurred Asian refiners to redirect newly available Middle Eastern crude cargoes toward the U.S. West Coast, as their own near-term supply needs are met.

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