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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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Bakken Wire Energy Briefing Tuesday, September 29, -

1. Headlines

Oil prices are down sharply this morning, with WTI crude at $91.13 (-1.59%) and Brent at $96.41 (-1.45%). The market is reacting to news that Saudi Arabia has restarted crude oil loadings at its Red Sea port of Yanbu. According to Reuters, citing vessel-tracking data and trade sources, the Yanbu port and the Al Muajjiz terminal are back to loading cargoes after the East-West pipeline resumed partial service following a two-week shutdown due to drone attacks. Loadings have been around 2 million barrels per day since last week, which is easing the supply crunch.

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