South Korean refiner GS Caltex has purchased 2 million barrels of Norway's Johan Sverdrup crude for delivery in March, likely its first purchase of the grade in years. The purchase was made after Middle East benchmark Dubai strengthened and narrowed its gap against Brent, making Atlantic Basin grades cheaper for Asia. Equinor sold the Johan Sverdrup crude cargo to GS Caltex at a premium of $2 a barrel to dated Brent on a cost-and-freight basis. The South Korean refiner was the first to purchase the crude from Norway's Johan Sverdrup field in 2021 when it started production. Johan Sverdrup oil can be used to replace medium-sour grades from the Middle East.