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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

Date: Thursday, July 30, 2026

1. Headlines

Oil prices are retreating this morning after a volatile session driven by Middle East headlines. As of this writing, WTI is trading at $83.42, down 1.23%, with Brent following at $89.89, down 0.94%. The sell-off follows a surge yesterday after renewed U.S.-Iran strikes, as reported by Rigzone. Conflicting reports swirl around the Strait of Hormuz. OilPrice.com reports that Iran's Revolutionary Guard Corps (IRGC) claimed two tankers attempting a U.S.-supported transit turned back after a fire, declaring the strait "our territory." Conversely, Rigzone reports that traffic has "picked up" and the U.S. Navy has escorted some tankers, a direct contradiction to the narrative of a complete shutdown.

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