Oil Prices Surge Over 3.5% Midday; Bakken Differential Holds Steady

Oil prices rallied sharply in midday trading Monday, August 10, 2026, with both major benchmarks gaining more than 3.5%. The surge provides a boost to Bakken operators as the regional price differential remains stable.

West Texas Intermediate crude was trading at $80.97 per barrel, a midday increase of $2.79, or 3.57%. The international benchmark, Brent crude, rose to $86.56 per barrel, up $3.01 for a 3.6% gain, according to live price data. Bakken crude was priced at a differential of -$3.42 versus WTI.

The midday rally extends gains from last week, driven by a combination of factors. Market sentiment has been bolstered by expectations of sustained demand and ongoing geopolitical tensions in key producing regions. The price movement reflects a broader market recalibration following recent volatility.

For operators in the Williston Basin, the jump in the underlying WTI price directly increases the wellhead value of their production. With the Bakken differential holding firm at under $3.50 per barrel below WTI, the netback price for local crude is significantly improved. This strengthens cash flows and can support continued capital discipline and shareholder returns across the basin.

Natural gas prices also saw an uptick, trading at $2.80 per MMBtu, an increase of $0.14 from prior settlement. While still at historically moderate levels, the move offers marginal relief for producers with significant associated gas production in the Bakken formation.

The current price environment, with WTI holding above $80, is likely to be viewed favorably by North Dakota producers. It supports active drilling and completion programs without necessarily triggering a return to aggressive growth spending, aligning with the industry's continued focus on efficiency and returns.

Market participants will be watching for the upcoming release of weekly U.S. inventory data from the American Petroleum Institute and the Energy Information Administration for further direction. Any signs of tightening supply or stronger-than-expected demand could provide additional support for prices heading into the back half of the year.