Concerns about the blockage of Russian oil exports have stimulated a sharp rise in international oil prices

Affected by the conflict between Russia and Ukraine, the market's concerns about the blockage of Russian oil exports intensified, and the price of international crude oil futures rose
sharply again on the 4th.

Light crude futures for April delivery rose $8.
01, or 7.
44%, to close at $115.
68 a barrel on the New York Mercantile Exchange by the close of the day, the highest since September 2008
.
London Brent crude futures for May delivery rose $7.
65, or 6.
93%, to settle at $118.
11 a barrel, the highest level
since February 2013.

Since Russia's special military operation against Ukraine in late February, the sanctions imposed by the United States on Russia have not yet involved Russian oil and gas exports
.

White House press secretary Psaki said on the 4th that the US federal government is considering a series of sanctions options, but does not want to disrupt global energy supplies or increase gasoline prices
.

According to data released by the US Energy Information Administration, the volume of crude oil and refined products imported by the United States from Russia in 2021 averaged 670,000 barrels
per day.

UBS oil analyst Giovanni Stunover said that although Russian energy exports are not currently under sanctions, exports are being affected, which is an independent action
of some buyers of Russian crude oil due to concerns about possible future sanctions.
Due to Russia's limited crude storage capacity, export disruptions are likely to trigger production
stoppages.

The U.
S.
Energy Information Publishing Group expects Russian crude and refined product exports to be affected by about 1.
5 million barrels per day and 1 million barrels
per day, respectively.
At present, Russia's crude oil exports through oil tankers have been greatly affected, while the export of crude oil through pipelines has not been affected
for the time being.
Before the outbreak of the Russia-Ukraine conflict, Russian crude oil and refined oil exports averaged 4.
7 million barrels per day and 2.
8 million barrels
per day, respectively.

Vikas Harlan, assistant deputy general manager of corporate finance at Moody's Investors Service, said oil prices could fluctuate
between $100 and $150 a barrel in the coming quarters if the Russia-Ukraine conflict continues.
International oil prices are expected to remain high over the next two to three years
.

Colin Cieszynski, chief market strategist at SIA Wealth Management, said oil prices could rise
further if tighter sanctions or damage to production and pipelines.