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Asia Naphtha/Gasoline-Naphtha price recovers to $963/T

SINGAPORE, Oct 5 (Reuters) - The Asian naphtha price recovered on Friday and ended the week at a three-session high of $963 a tonne.

The intermonth premium stayed at $13 a tonne for the fifth straight session in a market marked by limited spot purchases from petrochemical makers.

Ongoing term talks and a recent holiday in South Korea have caused buyers to retreat temporarily.

Kuwait Petroleum Corp (KPC) has sealed its December 2012 to November 2013 full-range naphtha contract for with at least one buyer at record premiums of $27 a tonne to Middle East quotes on a free-on-board (FOB) basis.

It has been in talks with buyers in London since Monday.

Offers started at premiums above $30 a tonne, which was eventually reduced to $28 a tonne versus bids $26 a tonne.

Separately, Abu Dhabi National Oil Co. (ADNOC) will delay its naphtha term shipments to February 2013-January 2014 instead of from January-December 2013.

"We are not sure why the delay. It could be a production problem or they foresee a weaker market," said a trader.

GASOLINE CRACKS AT FOUR-SESSION HIGH

Asia's gasoline cracks extended gains to reach a four-session high of $12.33 a barrel as supplies remained relatively tight.

Taiwan's CPC Corp has temporarily shut a 30,000 barrels per day (bpd) residue-desulphurisation unit (RDS) at its Kaohsiung plant this week for about 10 days due to a mechanical problem.

This could a reason affecting its overall gasoline exports.

State-run Korea National Oil Corp (KNOC) on the other hand is seeking 100,000 barrels of gasoline imports for October delivery as part of its plan to supply the fuel to domestic retail stations at competitive prices.

* SINGAPORE CASH DEALS: Two gasoline deals and one on naphtha.

- PetroChina sold a 95-octane gasoline cargo to Gunvor for Oct. 25-29 loading at $128.30 a barrel but bought a 92-octane octane gasoline from Morgan Stanley for Oct. 27-31 loading at $124.50 a barrel.

- As for naphtha, Vitol bought a second-half December cargo from Glencore at $950 a tonne.

LIGHT DISTILLATES CASH ($/T) ASIA CLOSE Chang % Prev RIC Chang Close OSN Naphtha CFR Japan M1 963.00 31.00 3.33 932.00 OSN Naphtha CFR Japan M2 950.00 31.00 3.37 919.00 OSN Naphtha Diff 13.00 0.00 0.00 13.00 Naphtha Netback FOB Sing 104.63 3.44 3.40 101.19 Naphtha Diff FOB Sing 1.63 -0.01 -0.61 1.64 Naphtha-Brent Crack 121.73 6.10 5.28 115.63 Gasoline 97 131.17 5.50 4.38 125.67 Gasoline 95 128.30 5.80 4.73 122.50 Gasoline 92 124.50 5.50 4.62 119.00 Gasoline crack 12.33 2.18 21.48 10.15 SWAPS ($/T) ASIA CLOSE Chang % Prev RIC (0830 GMT) Chang Close Brent M1 112.16 3.32 3.05 108.84 Naphtha CFR Japan M1 954.75 35.25 3.83 919.50 Naphtha CFR Japan M1/M2 8.75 0.25 2.94 8.50 Naphtha CFR Japan M2 946.00 35.00 3.84 911.00 Naphtha Japan-Sing Netback M1 15.60 4.65 42.47 10.95 Naphtha Japan-Sing Netback M2 18.55 3.95 27.05 14.60 Naphtha FOB Sing M1 104.35 3.40 3.37 100.95 Naphtha FOB Sing M1/M2 1.30 -0.05 -3.70 1.35 Naphtha FOB Sing M2 103.05 3.45 3.46 99.60 Naphtha Cracks M1 -7.05 0.57 -7.48 -7.62 East-West Naphtha M1 -6.00 -5.50 1100. -0.50 0 East-West Naphtha M2 2.00 -6.00 -75.0 8.00 NWE Naphtha M1 960.75 40.75 4.43 920.00 NWE Naphtha M1/M2 16.75 -0.25 -1.47 17.00 NWE Naphtha M2 944.00 41.00 4.54 903.00 Crack NWE Naphtha-Brent M1 -7.27 1.24 -14.5 -8.51 Crack NWE Naphtha-Brent M2 -8.16 0.63 -7.17 -8.79 *Sing refers to Singapore

(Reporting by Seng Li Peng, editing by William Hardy)

((lipeng.seng@thomsonreuters.com)(+65 6870 3086)(Reuters Messaging: lipeng.seng.reuters.com@reuters.net))

Keywords: MARKETS ASIA/NAPHTHA GASOLINE