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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 Energy Market Briefing Friday, July 31, respectively

1. Headlines

Oil prices are up sharply this morning, with both WTI (+1.48% to $84.83) and Brent (+1.48% to $90.35) gaining over a dollar per barrel. The move is widely attributed by financial media, including Rigzone and OilPrice.com, to escalating Middle East tensions offsetting earlier diplomatic hopes. Headlines are dominated by shipping disruptions: six empty Saudi tankers have rerouted around Africa to avoid Houthi threats near the Bab el-Mandeb Strait, and Abu Dhabi's ADNOC has purchased five supertankers for nearly $600 million, according to unnamed Reuters sources, to secure its export capacity amid the prolonged Hormuz crisis.

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