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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, September 1, 2026

1. Headlines

Oil prices are rallying for a second consecutive day. WTI crude is up 2.2% to $87.65, while Brent is up 1.6% to $91.94, according to price data. The immediate catalyst cited by multiple reports is a renewed flare-up in Middle East tensions threatening the Strait of Hormuz. OilPrice.com reports that two oil supertankers, the Sidr and the Senegal Prosperity, were hit by unknown projectiles while transiting the Strait of Hormuz near Oman, according to maritime risk firm Marisks. This follows reports of U.S. and Iran exchanging fire on Monday for the first time in over a month.

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