The latest sanctions by the United States against Russia have thrown the global oil trade into chaos.

Jinshi data, February 14th, the United States' tightening of sanctions against Russia disrupted the hot trade of discounted oil provided by Russia, re-stimulated the demand for Middle Eastern and African crude oil, disrupted the shipping market, and pushed up oil prices. The new sanctions have led to millions of barrels of crude oil being stranded on tankers, prompting traders to seek alternatives, while trading of Russian crude oil in March has slowed. The scramble for alternative crude oil has disrupted the market. In recent weeks, the price of high-sulfur Dubai crude oil has exceeded that of low-sulfur Brent crude oil, which is easier to process. This has provided an opportunity for producers from Brazil to Kazakhstan to gain market share. Traders said that last month, the premium of Brazilian crude oil over Brent crude oil soared from about $2 per barrel in the previous month to about $5 per barrel. Currently, the premium for crude oil arriving in May is slightly lower than $5 per barrel.