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BAKKEN WIRE
WTI Tops $101 as Middle East Risk Lifts Oil - Bakken Wire
Oil Prices

WTI Tops $101 as Middle East Risk Lifts Oil

Higher benchmark crude supports Williston Basin revenues, but Bakken discount tempers netbacks

Bakken Wire Staff·☀️Morning Wire·

Oil prices moved higher. According to live price data, WTI crude was $101.75, up $1.85, or 1.85%. Brent crude was $111.29, up $1.88, or 1.72%. Natural gas was $3.05, up $0.05. The Bakken differential was $3.42 below WTI, implying a Bakken crude reference price of $98.33.

For Bakken operators and royalty owners, the gain in WTI raises the benchmark for oil sold from the Williston Basin, while the negative differential means producers still receive less than the U.S. benchmark. The modest rise in natural gas also matters in the Bakken, where associated gas is produced alongside oil.

OilPrice.com reported that Equinor tripled its adjusted net income for the third quarter from a year earlier, to $2.86 billion from $932 million, citing strong refining margins, high oil and natural gas prices and increased hydrocarbon production. The Norwegian energy major said production rose 2% year over year to 2.166 million barrels of oil equivalent per day.

The company’s average realized liquids price rose 42% from a year earlier to $92.3 per barrel, OilPrice.com reported. Its realized European gas price reached $20.0 per million British thermal units, up from $15.79 in the second quarter and 75% higher than the third quarter of 2025. OilPrice.com linked the gas-price surge to a lack of LNG supply from Qatar amid the Iran war and disruption at the Strait of Hormuz.

The report said the Middle East conflict has kept oil prices elevated and above $100 per barrel since early September. Additional OilPrice.com headlines pointed to Houthi attacks reigniting Saudi supply fears, U.S. crude inventories bucking analyst expectations and a Ras Tanura fire following attacks on Aramco offices and near the Shaybah field.

Equinor’s Marketing, Midstream and Processing division reported post-tax adjusted operating income of $574 million, above the company’s guidance of $400 million and far above $195 million in the third quarter of 2025, according to OilPrice.com. The division was driven by high refining margins, strong refining performance and LNG trading.

Equinor President and CEO Anders Opedal said high production in the quarter enabled the company to capture additional value from higher prices. He said Equinor increased its 2026 guiding for oil and gas production growth from 3% to around 4%, according to OilPrice.com.

For Bakken producers, the key takeaway is that global supply risks are supporting benchmark prices, while regional pipeline and quality differentials continue to shape realized revenue. With WTI above $100 and natural gas slightly higher, cash flow from oil and associated gas is supported by higher prices, but the $3.42 Bakken discount remains a drag on netbacks.

Source

Bakken Wire live price data; OilPrice.com

oil priceswtibrentbakkennatural gasequinor

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