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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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Daily Energy Market Briefing Tuesday, August 11,116, 2026

1. Headlines

Oil prices are effectively flat this morning, with WTI at $82.22 and Brent at $87.65, as conflicting market forces create a stalemate. The primary narrative, per Rigzone and OilPrice.com, centers on sustained Middle East supply risks. Traffic through the critical Strait of Hormuz reportedly sank to just six commodity vessels on Monday, far below pre-war levels, as hopes for a U.S.-Iran deal fade. Simultaneously, Libya’s National Oil Corporation is weighing a force majeure declaration following drone attacks on the Zawiya oil terminal, threatening exports from the large Sharara field.

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