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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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Date: Thursday, July 9, 2026

1. Headlines

Oil prices are holding onto significant gains this morning after a sharp rally yesterday, driven by a dramatic re-escalation of hostilities between the U.S. and Iran in the Strait of Hormuz. As of this morning, WTI crude is trading at $73.97, up 0.61%, with Brent at $78.66. According to reports from OilPrice.com and Rigzone, the U.S. conducted a second consecutive day of strikes against Iranian military targets, with CENTCOM stating the goal is to "further degrade Iran's ability to attack commercial shipping." Iran has retaliated with strikes reported on facilities in Bahrain, Kuwait, and Qatar.

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