WTI Crude--
Brent Crude--
Natural Gas--
ND Rig Count--
WTI Crude--
Brent Crude--
Natural Gas--
ND Rig Count--
BAKKEN WIRE
Oil Prices Retreat From $100 but Strait of Hormuz Constraints Linger - Bakken Wire
Oil Prices

Oil Prices Retreat From $100 but Strait of Hormuz Constraints Linger

WTI falls to $96.57 as ceasefire fails to reopen key chokepoint, keeping global supply tight and Bakken crude premiums uncertain.

Bakken Wire Staff·🔆Midday Wire·

Oil prices pulled back in midday trading Saturday but remained elevated near $100 per barrel, with ongoing constraints at the Strait of Hormuz preventing a full easing of the global supply shock. West Texas Intermediate (WTI) crude traded at $96.57, down $1.33 or 1.33%, while Brent crude was at $95.20, down 0.75%, according to live price data. The Bakken differential versus WTI was undefined.

The decline follows a fragile U.S.-Iran ceasefire announced earlier in the week, which initially spurred a 15% single-day price drop. However, the vital waterway for Middle Eastern oil and LNG exports remains largely closed to standard commercial navigation, according to a report from OilPrice.com. Maritime intelligence firm Windward stated that transit is still tightly controlled and coordinated by Iran's Islamic Revolutionary Guard

Source

Bakken Wire staff

prices

Share this article

PostShareShareEmail

Related Articles

Oil Prices Steady as Bakken Discount Widens - Bakken Wire
Oil Prices

Oil Prices Steady as Bakken Discount Widens

Oil prices showed little movement in Sunday trading, with West Texas Intermediate (WTI) crude holding steady at $87.06 per barrel, according to live market data. The global benchmark, Brent crude, was also unchanged at $94.39. Natural gas prices were flat at $2.81 per MMBtu. For Bakken producers, the more critical figure is the regional price differential. Bakken crude at the Clearbrook, Minnesota, hub was trading at a discount of $3.42 per barrel below the WTI benchmark price. This spread is a direct determinant of the netback price received by North Dakota operators and directly impacts cash flow and drilling economics. The static price action follows a volatile week driven by mixed signals from global inventories and ongoing geopolitical tensions. Market analysts note that prices found a footing above $86 for WTI after U.S. government data showed a larger-than-expected drawdown in crude stockpiles last week, indicating robust demand. However, this was...

🌅Afternoon Wire·Aug 23
Oil Prices Edge Higher Midday as Bakken Discount Holds at $3.42 - Bakken Wire
Oil Prices

Oil Prices Edge Higher Midday as Bakken Discount Holds at $3.42

Oil prices posted modest gains in midday trading Sunday, with benchmark crudes holding near multi-week highs. West Texas Intermediate (WTI) crude was trading at $87.06 per barrel, a gain of $0.23 or 0.26%. The international benchmark Brent crude rose to $94.39, up $0.61 or 0.65%, according to live price data. Bakken crude priced at the Clearbrook, Minnesota, hub maintained a differential of negative $3.42 per barrel versus WTI. This places the effective price for Bakken barrels at approximately $83.64, factoring in the regional discount. Natural gas futures also saw upward movement, rising $0.05 to trade at $2.81 per million British thermal units. The midday price strength continues a trend of firming crude markets. Prices are being supported by a combination of sustained demand signals and ongoing supply discipline from major producing nations within the OPEC+ alliance. Geopolitical tensions in key oil-producing regions also continue to underpin a risk premium in...

🔆Midday Wire·Aug 23
WTI Holds Above $87 Amid Global Supply Concerns; Bakken Differential Widens - Bakken Wire
Oil Prices

WTI Holds Above $87 Amid Global Supply Concerns; Bakken Differential Widens

Oil prices edged higher on Sunday, with West Texas Intermediate (WTI) crude trading at $87.06 per barrel, a gain of 0.26% or $0.23, according to live market data. The global benchmark Brent crude rose 0.65% to $94.39, while natural gas prices increased by $0.05 to $2.81 per MMBtu. The Bakken crude differential, which measures the price of Bakken barrels delivered to Clearbrook, Minnesota, against WTI, was assessed at a discount of $3.42. This price spread is a key indicator of the competitiveness and market access for North Dakota's light sweet crude. Market support stems from tightening global crude supplies. According to a report from Rigzone, U.S. refiners are facing a looming supply drop from their biggest foreign crude supplier at a time of peak seasonal demand. While the source material did not specify the supplier, such a reduction in available imported crude typically increases competition for domestic barrels, including those...

☀️Morning Wire·Aug 23