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BAKKEN WIRE
The Morning Take - Energy Market Briefing
Global Markets

Energy Market Briefing

Bakken Wire Staff·☀️Morning Wire·

Energy Market Briefing Saturday, July 11, 2026

1. Headlines

Oil markets are flat in early trading after a volatile week, with WTI at $71.51 and Brent at $76.00. The primary focus for traders is a mix of supply-side news and immediate demand pressure from extreme weather. According to Rigzone, the International Energy Agency (IEA) reported the United Arab Emirates surged to a record oil output of 4.1 million barrels per day in June, adding volume to the market. Conversely, OilPrice.com reports Kazakhstan has officially extended its ban on exports of petroleum products like gasoline and diesel for another six months, primarily to prevent smuggling into fuel-short Russia, tightening regional product markets.

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