Fears of supply disruptions in specific origins intensify, and international crude oil prices soared

Foreign news on March 2, traders said that the disruption to Russian crude oil exports intensified, as more countries and traders no longer import and transport Russian crude oil, and at least 10 ships of Russian crude oil could not find buyers, which pushed oil and gas prices soaring
.

After the escalation of the Ukrainian crisis, the United States and the European Union imposed sanctions on Russia, but as of now, Western countries have no sanctions directly targeting Russian energy exports.
But oil and gas prices have soared to multi-year highs
.

Many Western buyers have stopped buying Russian crude and want to see clarity on the details of sanctions against Russia
.

This has led to disruptions
in recent days in the supply of about 7 million b/d of crude oil and refined products from Russia and about 1.
2 million b/d of Kazakh crude oil exported through Russia.

Canada said it would close its ports to Russian vessels, while tanker company Frontline said it was unlikely to ship Russian crude
.

Nine ships of Russian crude oil producer Surgutneftegaz, totaling 6.
5 million barrels of crude oil, failed to find a buyer
.

According to traders, plans to ship tankers loaded with Russian and Kazakh crude oil at Black Sea ports were reportedly cancelled
.

As disruptions to Russian crude exports intensified, buyers began looking for alternative supplies of Russian crude oil, which had already tightened
as the economy recovered from the pandemic.

It is reported that India's state-owned refiner Bharat Petroleum is looking for crude oil supplies from the Middle East; Polish refiner PKN Orlen ordered five additional ships of crude
from Saudi Aramco.

In Russia, independent refiner Novoshakhtinsk has suspended operations as demand for the country's refined products wanes
.