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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 Tuesday, July 14, 2026

1. Headlines

Oil prices are surging this morning following a significant military escalation in the Strait of Hormuz. Brent crude is up 3.47% to $86.19, and WTI is up 2.16% to $79.83, according to market data. The immediate catalyst is an Iranian attack on two UAE-flagged Very Large Crude Carriers (VLCCs) in the southern shipping lane, which killed one crew member and injured eight others. The UAE Ministry of Defense confirmed the attack, and ADNOC Logistics & Services reported significant damage to the vessels, the Al Bahyah and the Mombasa.

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