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North Sea Crude Weakens as Mideast Oil Floods Back to Market

North Sea Crude Weakens as Mideast Oil Floods Back to Market
Bloomberg Markets Tuesday 23 June 2026, 12:35 UTC By Sherry Su 1 min read
Key Points

North Sea Crude Weakens as Mideast Oil Floods Back to Market Key indicators in the North Sea crude market are showing signs of weakness as a wave of Middle Eastern oil heads to Europe, fueling concerns about a supply glut following the reopening of the Strait of Hormuz. Forties crude, one of the six grades underpinning the global Dated Brent benchmark, traded Monday at its lowest level in two years in the closely watched Platts pricing window operated by S&P Global Commodity Insights. WTI...

North Sea Crude Weakens as Mideast Oil Floods Back to Market Key indicators in the North Sea crude market are showing signs of weakness as a wave of Middle Eastern oil heads to Europe, fueling concerns about a supply glut following the reopening of the Strait of Hormuz. Forties crude, one of the six grades underpinning the global Dated Brent benchmark, traded Monday at its lowest level in two years in the closely watched Platts pricing window operated by S&P Global Commodity Insights. WTI Midland, another key component of Dated Brent, fell to a three-month low.
North Sea Crude (LOCATION) Mideast Oil Floods Back (LOCATION) the North Sea (LOCATION) Middle Eastern (LOCATION) Europe (LOCATION) the Strait of Hormuz (LOCATION) Brent (PERSON) Platts (PERSON) S&P Global Commodity (ORG) Midland (LOCATION) Dated Brent (PERSON)
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