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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 Sunday, October 18, 2026

1. Headlines

Oil prices are sharply higher this morning, with Brent crude trading above $109 per barrel and WTI near $99, according to price data. Rigzone reports that Brent hit $110 as supply risks mount, attributing the surge to rising Middle East tensions. The price moves follow a significant drawdown in U.S. commercial crude inventories, which the EIA reported dropped by almost 9 million barrels week-over-week to 415.577 million barrels.

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