LONDON, March 1 (Reuters) - Differentials on crude oil fell across Russian sour and Caspian sweet crude on Thursday due to further weakening of refining margins in the region, traders said.
"If you are an oil refiner, there is no joy now," a trader with a refiner said. "At this moment, we are not looking for spot cargoes now."
Another trader pointed out that the fall in Urals crude came despite the cut off of some Iranian sour crude and it highlights the weakness of European demand.
Concerns over Iran, however, has been one of the factors that have been sustaining oil futures prices high. ICE Brent was trading $2.68 up at $125.34 a barre by 1845 GMT.
Trades were active in tenders.
* Litasco sold 100,000 tonnes of Russian Urals crude for March 11-15 loading at Dated Brent minus $1.30 a barrel in Northwest Europe.
* The activity in the Mediterranean was limited, while the differential was seen above that in Northwest Europe.
* Socar Trading offered 600,000 barrels of Azeri Light at Dated plus $3.50 a barrel. Last week, Azeri Light was assessed above dated plus $4 a barrel.
* "That's the level I think Azeri is now. Distillates are weakening," a trader said.
* Shell offered CPC Blend for March 16-20 loading at dated benchmark minus 45 cents a barrel.
* Many tenders closed on Thursday and some results of Russian Urals crude tenders started emerging.
* Surgutneftegaz close its tender to sell Urals to be loaded from the Baltic port of Primorsk in March.
* The loading days are March 18-19, 21-22, 24-25 and 25-26.
* Traders said cargoes were sold to majors and one trading house in a rage of dated minus 60 and 80 cents. This was not confirmed.
* Traders said Rosneft awarded its tender to sell March loading Urals to two majors. This was not confirmed.
* Egyptian state oil firm EGPC closed a tender to buy sour crude for May-December. Details of the results have not emerged. (Reporting by Ikuko Kurahone; )