Russian oil sales are increasingly under an embargo in all but name, threatening a vital source of global crude supply. While there are currently no sanctions in place preventing companies from purchasing the nation’s crude, buyers are refusing to take it, and tanker companies are unwilling to ship it. Refineries are racing to secure alternative supplies from other markets. On Tuesday, Trafigura Group, an oil trading giant, offered to sell a cargo of the nation’s flagship Urals grade for $18.60 a barrel less than an international benchmark. It was the deepest discount ever but still drew no bids. On Wednesday, the market will find out whether Russian oil producer Surgutneftegas PJSC can offload nine cargoes through tenders after two prior attempts failed. The big issue is shipping and trading. Large numbers of oil tanker owners — often companies with relatively small compliance departments — are taking a caution-first approach […]