Japanese Refiners Preemptively Buy Omani Crude Amid Saudi Pipeline Disruption

Japanese refineries are reported to have preemptively purchased Omani crude oil earlier than usual following the halt in operations of Saudi Arabia's East-West pipeline. The move comes amid growing concerns over short-term supply disruptions for Middle Eastern crude oil. Bloomberg reported that Eneos and Idemitsu Kosan acquired Omani crude scheduled for October shipment recently, typically purchased in September. Instead, Persian Gulf crude usually bought in September is now expected to be delivered in November. Asian refiners' efforts to secure short-term supplies have led to two 2 million barrel cargoes being traded at a premium of up to $38 per barrel above Dubai benchmark, though total transaction volumes remain unconfirmed.