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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 Thursday, November 12, 2026

1. Headlines

Oil prices are down this morning, with WTI trading at $85.79 (-0.86%) and Brent at $92.14 (-0.67%), according to price data. The market is digesting conflicting signals on global supply flows. Multiple sources, including OilPrice.com and Rigzone, report that crude shipments from the Persian Gulf to India have surpassed Russian flows for the first time since the Iran war began, reaching an estimated 2.1 million barrels per day (bpd) so far this month versus 1.8 million bpd from Russia, per Kpler data. This indicates a material recovery in Hormuz traffic via ship-to-ship transfers.

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