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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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Date: Wednesday, August 5, 2026

1. Headlines

Oil prices are climbing this morning after a volatile session yesterday, with WTI at $76.18 and Brent at $80.28. The market is digesting a mix of bullish supply disruptions and bearish geopolitical diplomacy. According to Rigzone, Brent settled at a three-week low yesterday on hopes for a U.S.-Iran deal to reopen the Strait of Hormuz, but prices have rebounded this morning following a new attack in the Red Sea. OilPrice.com reports an India-flagged tanker carrying Saudi oil was sunk off Yemen, underscoring persistent shipping risks.

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