Tightened U.S. sanctions on Moscow have disrupted a roaring trade in discounted Russian oil to China and India, reviving demand for Middle Eastern and African crudes, roiling shipping markets and driving up oil prices.

Since the onset of Western sanctions targeting Russia’s oil exports, the global oil transportation industry has become increasingly complex and uncertain. Wha

With a limited supply of sanctions-proof cargoes, discounts for Russian Urals crude to dated Brent have narrowed to $2.50-$2.90 a barrel for March delivery, versus $3-$3.50 before the January sanctions, they said, a major cost increase on a typical one million barrel cargo.