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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 Briefing Date: Saturday, August &, 2026

1. Headlines

Oil prices closed higher Friday, with WTI settling at $78.18 and Brent at $83.55. The rally was attributed to renewed attention on a potential blockade of the Strait of Hormuz, as the Iranian parliament debates a bill to ban "hostile" vessels, according to OilPrice.com. This overshadowed earlier bearish sentiment driven by unconfirmed reports of resumed U.S.-Iran peace talks, which Iranian officials denied.

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