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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 Date: Wednesday, August 19, 2026

1. Headlines

Oil prices are extending gains for a fourth consecutive session, with WTI trading above $84 and Brent nearing $92. The primary driver cited across financial media is escalating risk in the Middle East, specifically at the Strait of Hormuz. Rigzone reports crude hit a three-week high due to the Iran standoff, while OilPrice.com notes that tanker traffic through the critical chokepoint has slowed significantly, with only six commodity vessels transiting on Tuesday.

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