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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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Energy Market Briefing Wednesday, August 26,18, 2026

1. Headlines

Oil prices are down sharply today, with WTI falling 2.25% to $80.51 and Brent down 2.04% to $85.49. According to multiple reports from OilPrice.com and Rigzone, the sell-off is attributed to diplomatic talks between Iran and Oman regarding a potential "joint temporary navigational corridor" through the Strait of Hormuz. Traders interpreted this news as a sign the key chokepoint could see an interim reopening, despite Iran simultaneously warning that the strait would remain closed unless the U.S. ends the war.

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