WTI Falls $1.45 to $94.40 as Bakken Differential Widens to -$3.42

West Texas Intermediate crude futures retreated sharply midday Saturday, trading at $94.40 per barrel, down $1.45 or 1.51% from the prior settlement. The decline contrasted with the global Brent benchmark, which held firmer at $99.13, down only $0.22.

The Bakken crude differential to WTI widened to a discount of $3.42 per barrel, according to live market data. Natural gas prices also softened, trading at $2.68, down $0.08.

The price divergence between WTI and Brent underscores the continued geopolitical risk premium supporting global prices, even as U.S. benchmarks face domestic pressures. The recent spike that pushed Brent over $100 per barrel followed U.S. airstrikes on Iran, according to a report from OilPrice.com.

That high-price environment is reviving investment discussions in struggling oil provinces worldwide. OilPrice.com reported that Colombia's oil industry, with production at multi-year lows of 734,924 barrels per day in February, sees hope for a recovery as prices rise and the political landscape may shift. The report attributed Colombia's sharp production decline to policies under leftist President Gustavo Petro, including a fracking ban, a halt to new exploration licenses, and tax hikes.

For Bakken operators, the current price structure presents a mixed picture. A Brent price near $99 supports strong global demand and competitor economics. However, the larger discount for Bakken crude relative to WTI, now at -$3.42, directly reduces the wellhead revenue for North Dakota producers. The $94.40 WTI price, minus the differential, implies a Bakken price point near $90.98.

Sustained prices above $90, even with the differential, continue to provide economic incentive for drilling and completion activity in the Williston Basin. The geopolitical backdrop supporting high Brent prices suggests a tight global market, which is a positive long-term signal for Bakken exports and overall demand.

The situation in Colombia, as detailed by OilPrice.com, serves as a stark contrast to the regulatory environment in North Dakota, highlighting the importance of stable fiscal and regulatory policy for maintaining production and investment. Colombia's natural gas output has also plummeted, falling 15.7% year-over-year to 695 million cubic feet per day in February 2026, forcing a tenfold increase in costly imports.