WTI Crude--
Brent Crude--
Natural Gas--
ND Rig Count--
WTI Crude--
Brent Crude--
Natural Gas--
ND Rig Count--
BAKKEN WIRE
Oil Prices Rise on Middle East Supply Concerns, Bakken Differential Holds - Bakken Wire
Oil Prices

Oil Prices Rise on Middle East Supply Concerns, Bakken Differential Holds

WTI and Brent crude gain as UAE supply curbs to Asia support benchmarks, while Bakken crude trades at a $3.42 discount.

Bakken Wire Staff·☀️Morning Wire·

Oil prices advanced in Wednesday morning trading, supported by tightening physical crude supplies from the Middle East. West Texas Intermediate (WTI) crude rose 84 cents, or 0.84%, to $84.77 per barrel, while the global benchmark Brent crude gained 68 cents, or 0.75%, to $91.70.

The price strength follows reports that the United Arab Emirates' national oil company, ADNOC, is curbing immediate crude shipments to Asia. According to a report from OilPrice.com, ADNOC plans to cut supply in spot tenders to Asian buyers by about 5% this month and next. The reduction is linked to maintenance on some of ADNOC's onshore fields in Abu Dhabi.

The supply curbs have lifted the price of Murban Crude, the UAE's flagship grade, to a four-month high. Murban this week traded at a nearly $7 per barrel premium over Brent, at $97.75 a barrel, OilPrice.com reported. The UAE left the OPEC producer group on May 1 and has since been pushing increased crude volumes to international markets, selling an estimated more than 100 million barrels in spot tenders since June.

For Bakken producers, the strength in global benchmarks is a positive signal, though local pricing reflects regional dynamics. Bakken crude at the wellhead traded at a differential of -$3.42 per barrel versus WTI, according to live price data. This means Bakken crude is priced at approximately $81.35 per barrel, factoring in the WTI price and the discount.

In other energy markets, natural gas prices also saw gains, rising 5 cents to $2.82 per MMBtu.

The supply situation in the Middle East remains a key driver for global oil markets. The UAE has managed to maintain export levels despite regional tensions, utilizing workarounds like maximizing its onshore pipeline and shipping tankers in "dark mode" to bypass the strategic Strait of Hormuz chokepoint, according to the OilPrice.com report.

For operators in the Williston Basin, sustained oil prices above $80 per barrel provide a stable economic environment for continued drilling and completion activity. The current differential is within a typical historical range for Bakken crude, which often trades at a discount to WTI due to transportation costs to major refining hubs.

Source

Live Price Data, OilPrice.com

oil priceswtibrentbakken differentialadnocuaesupplymiddle east

Share this article

PostShareShareEmail

Related Articles

Crude Prices Mixed Amid Market Uncertainty; Bakken Differential Widens - Bakken Wire
Oil Prices

Crude Prices Mixed Amid Market Uncertainty; Bakken Differential Widens

Oil prices showed a mixed performance in trading on Wednesday, October 7, 2026, with the U.S. benchmark falling while its international counterpart gained. West Texas Intermediate (WTI) crude settled at $88.97 per barrel, a decline of $0.47 or 0.53%. In contrast, Brent crude, the global benchmark, rose by $0.40 to close at $100.98 per barrel. The price for Bakken crude, a key grade for North Dakota producers, was trading at a discount of $3.42 per barrel below WTI. This differential, a critical factor for local operator revenue, indicates that Bakken crude is priced at approximately $85.55 per barrel based on the current WTI settlement. The widening discount can pressure profit margins for wells in the region. Natural gas prices posted a stronger gain, rising by $0.10 to reach $3.21 per million British thermal units (MMBtu). This increase provides a modest boost to operators with significant gas production alongside their oil...

🌅Afternoon Wire·Oct 7
WTI Slips to $88.90, Bakken Discount Widens; Natural Gas Climbs - Bakken Wire
Oil Prices

WTI Slips to $88.90, Bakken Discount Widens; Natural Gas Climbs

West Texas Intermediate crude oil prices edged lower on Wednesday, October 7, trading at $88.90 per barrel, a drop of $0.54 or 0.6%. In contrast, the international benchmark Brent crude rose 0.23% to $100.81 per barrel. The price for Bakken crude at Clearbrook, Minnesota, was at a discount of $3.42 per barrel versus WTI, according to midday price data. The day's price movement for WTI came despite new government data showing a drawdown in U.S. commercial crude oil inventories. According to the U.S. Energy Information Administration (EIA), stockpiles decreased by 3.2 million barrels for the week ending October 2, bringing levels to 424.1 million barrels. Despite the draw, inventories remain about 1% above the five-year average for this time of year, as reported by OilPrice.com. Other inventory data presented a mixed picture. The EIA reported distillate fuel inventories, which include diesel, were essentially unchanged and now stand 12% below the...

🔆Midday Wire·Oct 7
Oil Prices Rise Amid Supply Concerns; Bakken Differential Widens - Bakken Wire
Oil Prices

Oil Prices Rise Amid Supply Concerns; Bakken Differential Widens

Oil prices climbed in early trading Wednesday, with global benchmark Brent crude pushing above $101 per barrel. West Texas Intermediate (WTI) crude rose 0.87% to $90.22, while Brent gained 1.21% to $101.80, according to live price data. The price increase comes amid ongoing concerns about global supply tightness. A key factor is sustained demand from major importers. According to a Rigzone report from October 6, China's independent refiners are increasingly turning to Iraqi crude. This demand from the world's largest oil importer is supporting global benchmarks like Brent. For Bakken producers, the local price picture is more nuanced. Bakken crude traded at a differential of -$3.42 per barrel versus WTI on Wednesday. This discount means Bakken barrels are priced at approximately $86.80. The widening discount can pressure netbacks for operators in the North Dakota play, even as headline crude prices rise. Natural gas prices also saw gains, rising $0.06 to...

☀️Morning Wire·Oct 7