Asian refiners have significantly boosted their intake of U.S. crude cargoes scheduled for October loading, with traders familiar with the matter reporting that 18 to 20 Very Large Crude Carrier (VLCC) slots have already been secured halfway through the month.

The total volume of these transactions is estimated to be between 36 million and 40 million barrels. The buyers encompass refining firms from Japan, South Korea, Singapore, and other parts of Southeast Asia.

Notable participants in this surge of U.S. crude procurement include Cosmo Oil, Idemitsu Kosan, and SK Energy. The landed cost of U.S. crude heading to Asia has been on an upward trend, with October-loading cargoes currently being sold at a premium of roughly $30 per barrel against the Dubai benchmark.

For context, U.S. crude shipments loaded onto VLCCs in October typically reach Asian ports around December.