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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 Morning Briefing Sunday, July 26, 2026

1. Headlines

Oil prices are pulling back sharply from recent highs. Brent crude fell 3.88% to $96.78, while WTI dropped 3.12% to $89.31, according to Rigzone. The immediate catalyst cited by Rigzone is reduced supply fears, driven by reports of U.S.-Iran diplomatic talks and confirmation that Red Sea oil shipments are continuing despite regional conflict. The price drop comes even as the U.S. Energy Information Administration (EIA) reported a weekly build in crude inventories to 411.7 million barrels.

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