North Sea Crude Daily Market Analysis / North Sea, global crude supply outlook tightens / Backwardation steepens to multimonth highs T

Sep 14, 2026

he North Sea crude oil market remained well bid Sept. 9 as buyers continued to seek barrels in an increasingly tight market. Strengthening Asian demand continued to be cited as a key pillar of strength for the North Sea market and had lifted the Dated Brent physical differential to multimonth highs. “Sentiment is really strong,” said one North Sea crude oil trader, noting a tightening outlook in Europe. “The East pull helped to clear the North Sea barrels, I think, and there are some Midland going to the East,” the trader said. Market participants have noted the uptick in Asian demand for US swing barrels as a key limiter on October-loading volumes available to Europe. Differentials of WTI Midland landing in Europe have ticked higher in recent sessions despite trans-Atlantic...

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