WTI Slips Slightly as Bakken Differential Widens to -$3.42
EIA reports a draw on crude stocks, while the agency also raises its long-term natural gas price forecast.
West Texas Intermediate crude oil prices edged lower in Thursday afternoon trading, while the Bakken discount widened. WTI was trading at $79 per barrel, down $0.12 or 0.15 percent from the previous session, according to live price data. The international benchmark Brent crude held steady at $84.95.
The price for Bakken crude at the Clearbrook, Minnesota, hub was at a discount of $3.42 per barrel versus WTI, indicating a slight softening in regional market strength compared to the U.S. benchmark.
The marginal downward pressure on WTI occurred despite a reported drawdown in U.S. commercial inventories. According to Rigzone, citing the latest U.S. Energy Information Administration weekly petroleum status report, crude oil stocks, excluding the Strategic Petroleum Reserve, fell by almost 2 million barrels to 409.7 million barrels for the week ending July 10.
In a separate report with implications for associated gas production in the Bakken, the EIA raised its price forecast for natural gas. Rigzone reported that the agency increased its Henry Hub natural gas spot price projection for both 2026 and 2027 in its latest Short-Term Energy Outlook, published July 15. The live spot price for natural gas was $2.89 per barrel of oil equivalent, down $0.03 on the day.
For Bakken operators, the current price environment presents a mixed picture. The WTI price near $79 provides a stable foundation for drilling and completion economics in the play. However, the wider Bakken differential of -$3.42 means realized prices for barrels sold at Clearbrook are slightly less than the headline WTI figure. The inventory draw reported by the EIA suggests ongoing healthy demand, which supports the overall price structure.
The upward revision to the EIA's natural gas price forecast for 2026 and 2027 is a positive long-term signal for producers who also bring significant volumes of associated natural gas to market. Higher expected gas prices can improve the overall economics of oil-directed wells in the gas-rich Bakken formation.
Market attention now turns to broader economic indicators and any updates from OPEC+ regarding production policy. For North Dakota producers, maintaining operational efficiency to keep breakeven costs low remains critical to profitability at current price levels.
Source
Live price data, Rigzone (USA Crude Oil Stocks Drop Almost 2MM Barrels WoW, published July 16, 2026; USA EIA Raises Henry Hub Price Forecast for 2026, 2027, published July 15,53 2026)
