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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 for Bakken Wire Monday, July 20, 2026

1. Headlines

Oil prices are retreating this morning after a multi-week surge, with WTI down 1.8% to $80.31 and Brent down 1.33% to $86.93, according to Rigzone and OilPrice.com data. The pullback comes despite escalating tensions in the Strait of Hormuz. Reports from OilPrice.com and Reuters, citing tanker-tracking data, indicate maritime traffic through the critical chokepoint has collapsed to a two-month low, with Iran's Revolutionary Guard claiming to have intercepted vessels. A separate incident involving a vessel on fire near Oman was reported by UK Maritime Trade Operations.

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