WTI Crude--
Brent Crude--
Natural Gas--
ND Rig Count--
WTI Crude--
Brent Crude--
Natural Gas--
ND Rig Count--
BAKKEN WIRE
The Morning Take - Energy Market Briefing
Global Markets

Energy Market Briefing

Bakken Wire Staff·☀️Morning Wire·
Listen
0:00 / 3:47

Energy Market Briefing Monday, August 3, 2026

1. Headlines

Oil prices are sharply lower this morning, with WTI down over 6% to $79.29 and Brent down 5.4% to $83.19. The immediate catalyst, per Rigzone and OilPrice.com, is President Trump's announcement of fresh talks with Iran after calling off a planned military strike. This has deflated the geopolitical risk premium that fueled oil's strongest monthly gain since March in July. Concurrently, OPEC+ has formally decided to boost its collective production target by 188,000 barrels per day starting in September, completing the reversal of its 2023 output cuts, as reported by Rigzone.

Create a free account to continue reading

Sign up for free to get full access to Bakken Wire's daily energy market analysis, audio briefings, and more.

Create Free Account

Already have an account? Sign in

Share this article

PostShareShareEmail

Related Articles

The Afternoon Take - Energy Market Briefing
Global Markets

Energy Market Briefing

Afternoon Energy Market Briefing | Sunday, August 23, 2026 1. Headlines Oil prices are flat in Sunday trading, with WTI at $87.06 and Brent at $94.39. The Bakken differential to WTI is holding steady at -$3.42. Natural gas is at $2.81. Rig activity in the monitoring area is unchanged, with 34 active rigs. The main reported developments are geopolitical and operational. According to Rigzone, crude prices have been rallying as Asian demand strengthens and the conflict with Iran continues to constrain global supplies. In a related development, the semi-official Iranian Students' News Agency reports that Iran's President Masoud Pezeshkian has urged an end to the war while refusing to call defeat. Elsewhere, ExxonMobil is warning of a looming production decline at Kazakhstan's top oilfield, Tengiz, and is seeking to invest billions to cushion the slide at the nearby Kashagan development. U.S. refiners are also reportedly facing a looming supply drop...

🌅Afternoon Wire·Aug 23
The Midday Take - Energy Market Briefing
Global Markets

Energy Market Briefing

Daily Energy Market Briefing Sunday, August 23, 2026 1. Headlines Oil prices are ticking higher today, with Brent Crude up 0.65% to $94.39 and WTI gaining 0.26% to $87.06. The Bakken differential stands at -$3.42 versus WTI. Headlines are focused on geopolitical tensions and supply constraints. According to Rigzone, crude has extended its rally as Asian demand strengthens while the conflict with Iran continues to constrain global supplies. A separate Rigzone article notes that U.S. refiners are facing a looming supply drop from their biggest foreign crude supplier at a critical time. Other significant reports include a major equipment shortage. OilPrice.com details that lead times for heavy-duty gas turbines from major manufacturers like GE Vernova now stretch to 2031, creating a severe bottleneck for new power generation projects, particularly for the booming data center industry. 2. What's Really Happening The market is holding steady at elevated levels, but today's price...

🔆Midday Wire·Aug 23
The Morning Take - Energy Market Briefing
Global Markets

Energy Market Briefing

Energy Market Briefing for Bakken Wire Sunday, August 23, 2026 1. Headlines Oil prices are higher this morning, with Brent crude leading gains. WTI is up 0.26% to $87.06, while Brent rose 0.65% to $94.39. The price strength is being attributed by financial press to ongoing tensions from the U.S. war with Iran, which are seen as constraining global supplies, and to strengthening Asian demand (Rigzone). The Bakken differential to WTI stands at -$3.42. The North Dakota oil sector shows clear positive momentum from higher prices. According to data released this past Thursday, August 20, the state's oil production averaged 1.153 million barrels per day in June, a 2.5% increase from May and slightly above the state's revenue forecast (Bing News). The active rig count has jumped from 26 in mid-July to 33 as of this past week, with five new operators entering the basin. State officials note the June...

☀️Morning Wire·Aug 23