* Differentials not expected to go much higher * Third August Forties cargo deferred * Weaker refining margins unlikely to trigger run cuts LONDON, July 17 (Reuters) - North Sea Forties crudedifferentials were unchanged on Wednesday as there were no bidsor offers in the price assessment window, and traders said theysaw little scope for them to push higher. Another August Forties cargo was deferred, taking the totalto three. Suncor's F0803 parcel, originally scheduled to load onAug. 12-14, was pushed back to Aug. 13-15, trade sources said. The new loading dates for Shell's F0801 parcel were finallyconfirmed as Aug. 11-13. The cargo was taken off its originaldates of Aug. 7-9 last Friday and new dates were slow to emerge. Traders are unsure why there have been so many deferralsalready for August, with Britain's Buzzard oilfield now thoughtto be back at its maximum operating capacity. One tradersuggested it could be a capacity restriction on the Fortiespipeline but operator BP said this was not the case. Others said the deferrals could simply be related to theapproach of pipeline and field maintenance in early August."Maybe it is preparation - like clockwork, it always seems tohappen around this time of year," one trader said. The deferrals and worries about tight August supply arehelping to underpin North Sea crude differentials, but tradersare sceptical prices will go much higher, despite continuingstrength in Russian Urals, a competing crude. The last Forties trade came on July 10 at dated Brent plus50 cents, but Forties was bid up to dated Brent plus 70 centsthis week. "It feels like differentials are high - they may stay here,but I doubt they will go higher. Probably they will drift off alittle," one said. "Differentials are looking a bit toppish," another said. On the demand side, refinery margins have weakened sinceJune, but traders do not think there will be a significantdecrease in runs as summer demand is coming through and gasolinecracks are up at nearly $16 a barrel. SWAPS * Click on for the latest contracts-for-differences. DATABASE
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