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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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Energy Market Briefing Wednesday, July 15, 2026

1. Headlines

Oil prices are climbing for a fourth consecutive session, with WTI holding above $79 and Brent above $85. The primary driver, according to OilPrice.com and Rigzone, is the renewed military escalation in the Middle East following the collapse of the U.S.-Iran ceasefire. The International Maritime Organization (Rigzone) has declared the Strait of Hormuz "too dangerous" for commercial vessels, and Iran is now threatening to disrupt other key maritime chokepoints like Bab el-Mandeb.

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