North Sea Oil Signals Weakness as Vitol, Total Buying Spree Ends

The North Sea crude market is flashing signs of weakness as heavy buying from Vitol Group and TotalEnergies SE subsides, removing a key pillar of support just as more supply is set to return to the Atlantic Basin.

Prices for key North Sea grades have tumbled in recent trading sessions. WTI Midland — one of the six crudes that underpin Dated Brent — traded at a two-month low of $1.70 a barrel above the global benchmark on Monday, according to traders monitoring the Platts pricing window run by S&P Global Commodity Insights.