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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, September 2, 2026

1. Headlines

Global oil markets are consolidating after a sharp rally, with WTI trading at $89.51 and Brent at $94.17, both down slightly on the day. The price retreat comes despite continued reports of escalating military conflict between the U.S. and Iran in and around the Strait of Hormuz. According to ship-tracking data cited by OilPrice.com, tanker traffic through the critical chokepoint remains severely depressed, with only four crossings reported on Tuesday versus a ten-day average of 13.

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