Med Crude-Urals sellers bullish, margins narrow
* Urals offered at dated plus 15 cents in NWE
* Refining margins weak
* Saudi prices expected to emerge soon
LONDON, July 3 (Reuters) - Russian Urals was offered at a premium to dated Brent in northwest Europe on Friday, despite poor refining margins and talk that refineries may be considering run cuts.
Urals is still underpinned by solid demand for sour crude and lower supplies of competing crudes as Middle East OPEC exporters curb supplies.
Still, some traders said refiners could decide to cut runs due to poor margins, which would weigh on differentials, but there was no evidence that any in Europe had done so.
URALS
* In the north, Gunvor offered a July 18-22 cargo at dated plus 15 cents, traders said. That was 5 cents lower than an offer on Thursday and some way away from the last known deal, done on Tuesday at dated minus 35 cents. Continued...
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