According to several informed traders, the South Korean refining firm GS Caltex has purchased 2 million barrels of US crude oil for shipment in late August, with the transaction price at a premium of approximately $18 per barrel over the October Dubai crude benchmark.

The traders indicated that the cargo carrying this crude is expected to arrive at its destination in early October.

The seller in this crude oil transaction was the trading group Trafigura.

GS Caltex had previously also procured US crude for August shipment, at that time at a premium of around $14 per barrel over the Dubai crude benchmark.