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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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Date: Monday, October 12, 2026 To: Bakken Wire Readers From: Energy Market Analyst Subject: Daily Briefing: Ceasefire Hopes Clash with Persistent Supply Risks

1. Headlines

Oil prices opened lower in early trading on conflicting geopolitical narratives, according to reports from OilPrice.com and Rigzone. Brent Crude was noted at around $104 per barrel and WTI at about $91 per barrel in Asian hours. The stated reason for the initial downward pressure was an announcement from U.S. President Trump of an "energy ceasefire" between Russia and Ukraine, which the market hoped would increase global diesel availability. This news was reported to be offsetting a weekend escalation in the Middle East, where ballistic and cruise missile attacks by Houthi forces struck the King Khalid International Airport in Riyadh, Saudi Arabia, causing multiple casualties.

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