Japanese Refiners Rush for Mideast Crude After Saudi Pipeline Shutdown

Japanese oil refiners Eneos Holdings Inc. and Idemitsu Kosan Co. have stepped up purchases of Middle Eastern crude after a key Saudi Arabian pipeline shut down, raising concerns about timely supplies.

The companies recently bought Oman crude for loading as early as October, according to traders who spoke on condition of anonymity because they are not authorized to speak with the media.

This is earlier than usual, as Persian Gulf cargoes purchased in September typically load in November.