Sunday, September 13, 2026

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☀️Morning Wire7:00 AM CST

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Oil Prices

Oil Prices Slide Over 2% Despite U.S. Inventory Draw

Front-month crude oil futures fell sharply in early Sunday trading, with West Texas Intermediate (WTI) dropping below $101 per barrel. The decline pressures wellhead economics for operators in North Dakota's Bakken formation. As of Sunday morning, October 2026 WTI crude was trading at $100.05 per barrel, a drop of $2.43 or 2.37% from the previous settlement. The global benchmark, Brent crude, fell to $104.61, down $3.02 or 2.81%. The Bakken differential, the discount at which Bakken crude trades versus WTI at the Clearbrook, Minnesota hub, was quoted at -$3.42. This puts the implied price for Bakken crude at approximately $96.63 per barrel. The price slump comes despite supportive U.S. inventory data reported earlier in the week. According to Rigzone, citing the U.S. Energy Information Administration's (EIA) weekly petroleum status report, U.S. commercial crude oil stocks, excluding the Strategic Petroleum Reserve (SPR), fell to 424.1 million barrels as of September 4....

☀️Morning Wire·Sep 13

Rig Report

Bakken Rig Count Holds at 34 as Activity Stabilizes

The number of rigs actively drilling for oil and gas in North Dakota held steady at 34 on Sunday, September 13, according to live data from Bakken Wire. The count showed no change from the previous day, with no new rigs added, none removed, and none reporting a change in location. This stability follows a slight dip in activity over the past week. The current fleet is down by one rig from the count of 35 reported on September 6. However, the longer-term trend remains modestly positive, with the current level representing an increase of two rigs compared to the 32 active rigs recorded a month ago on August 14. The rig count is a key leading indicator for future oil production in the Bakken formation, North Dakota's primary oil-producing region. A stable count in the mid-30s suggests operators are maintaining a consistent, though cautious, pace of development. This level...

☀️Morning Wire·Sep 13

Daily Activity

DMR Daily Activity Report Shows No New Filings for Saturday

The North Dakota Department of Mineral Resources (DMR) daily activity report for Saturday, September 12, contained no new filings, according to the agency's data. The DMR daily report typically lists new drilling permits approved, wells spudded (drilling begun), completions reported, and wells plugged. The absence of new entries for a given day is a normal occurrence in the state's oil and gas regulatory system. Such no-activity reports are common on weekends and state holidays when operator and regulatory office activity slows. The next report, expected later today, will cover any filings submitted on Sunday. The daily activity report is a key source of operational intelligence for Bakken producers, service companies, and mineral rights owners, providing a near-real-time snapshot of drilling and completion activity across the Williston Basin.

☀️Morning Wire·Sep 13

Global Markets

IEA Cuts Oil Demand Forecast, Cites Ukraine Strikes on Russian Refineries

The International Energy Agency has simultaneously cut its forecast for global oil demand and reported on the degradation of Russia's refining sector due to Ukrainian drone strikes, according to separate reports from Rigzone. These dual developments present a complex price outlook for Bakken producers. In one report, the IEA slashed its view for oil demand this year and warned that consumption could decline further in the coming months, Rigzone reported. A lower demand trajectory typically exerts downward pressure on crude prices, which directly impacts the revenue of operators in the Williston Basin. A separate Rigzone article detailed that drone strikes are now hitting secondary-processing units at Russian refineries. The IEA estimates these critical components may require six to eight months to replace. This sustained damage to a major competitor's downstream capacity could tighten global supplies of refined products like diesel and gasoline, potentially providing support for crude oil prices. For...

☀️Morning Wire·Sep 13

🔆Midday Wire11:00 AM CST

The Midday Take

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Oil Prices

Oil Prices Plunge Over 2% as Demand Concerns Weigh on Market

Oil prices dropped sharply in midday trading Sunday, September 13, with global benchmark Brent crude falling more than U.S. West Texas Intermediate. The decline pressures profit margins for operators in North Dakota's Bakken formation. West Texas Intermediate (WTI) crude was trading at $100.05 per barrel, down $2.43 or 2.37% for the session. The international benchmark, Brent crude, was at $104.61 per barrel, down $3.02 or 2.81%. The Bakken crude differential, the discount at which the region's oil trades versus WTI, stood at $-3.42 per barrel. Natural gas prices held steady at $2.83 per MMBtu. The midday sell-off reflects growing market anxiety over the strength of global oil demand. Economic headwinds in major consuming regions are prompting traders to reassess consumption forecasts, leading to a broad risk-off move in the commodities complex. For Bakken operators, the price drop directly impacts the wellhead revenue for each barrel produced. With Bakken crude priced...

🔆Midday Wire·Sep 13

🌅Afternoon Wire4:00 PM CST

Oil Prices

Crude Prices Hold at $100 Amid Fuel Market Stress, Recession Fears

Oil prices held steady at elevated levels Sunday, with West Texas Intermediate (WTI) crude trading at $100.05 per barrel and Brent crude at $104.61, according to live price data. The Bakken crude differential was quoted at a discount of $3.42 versus WTI. The current price plateau follows a significant surge earlier in the week that saw Brent top $100 per barrel for the first time since July and WTI exceed $100, according to OilPrice.com. The spike was driven by escalating U.S.-Iran tensions with no diplomatic deal in sight, renewing supply concerns from the key Strait of Hormuz region. While crude flows through the Strait have recovered to an estimated half to two-thirds of pre-war levels, fuel supply remains severely constrained, OilPrice.com reported. Refineries outside the Middle East and Russia have been unable to fully offset lost supply, creating intense stress in fuel markets. This has pushed U.S. diesel prices to...

🌅Afternoon Wire·Sep 13

Rig Report

North Dakota Rig Count Holds at 34 for Sunday Session

North Dakota's active drilling rig count held steady at 34 for the Sunday, September 13 session, according to live data from Bakken Wire. The tally showed no daily change, with zero new rigs added, zero rigs removed, and no rigs moving location. The current activity level represents a decrease of one rig from the count of 35 reported one week ago, on September 6, 2026. However, compared to data from one month prior, the fleet has expanded. On August 14, 2026, the state reported 32 active rigs, meaning the current count is two rigs higher. The stability in the rig count comes amid a period of measured activity in the Williston Basin. The Bakken formation remains North Dakota's primary oil-producing region, and the rig count is a closely watched leading indicator for future production. The current level of 34 rigs is within the range observed in recent months, suggesting operators...

🌅Afternoon Wire·Sep 13