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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 Wednesday, July 29, 2026

1. Headlines

Oil prices are surging this morning, sharply reversing a three-day decline. As of this writing, WTI is up 4.11% to $82.52, and Brent is up 4.35% to $87.75. The move is being attributed to renewed military action in key Middle Eastern chokepoints. According to reports from OilPrice.com and Rigzone, the Houthis claimed an attack on a Saudi oil tanker in the Red Sea, while Iran’s Revolutionary Guard Corps claims to have struck three tankers in the Strait of Hormuz for using an "unsafe and illegal route."

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