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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 Briefing Friday, August 7, 2026

1. Headlines

Oil prices are lower this morning, with WTI trading at $76.65 (-0.83%) and Brent at $81.78 (-0.86%). According to reports from OilPrice.com and Rigzone, the market is digesting two conflicting narratives. First, there is fading optimism that a potential Iran-Oman deal will quickly reopen the Strait of Hormuz, which provided some price support. Second, fresh data shows China’s crude imports rebounded in July from a near-decade low, as reported by Rigzone, indicating resilient demand.

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