Asia Naphtha/Gasoline-Naphtha down on robust oil prices; but demand stays firm


SINGAPORE, June 8 (Reuters) - Asia's naphtha crack fell for a fourth straight session to $80.68 a tonne on Friday, making this the lowest front-month value since April 26 as strong oil prices dragged. - However, fundamentals were strong as demand was firm and these were reflected in the spot premiums. - SK Energy, for instance, bought naphtha for second-half July delivery at high-teens-a-tonne premium to Japan quotes on a cost-and-freight (C&F) basis. - SK Energy had on June 1 paid a premium of $16 to $17 a tonne for cargoes delivering also in second-half July. - Japan's Idemitsu also bought for second-half July delivery on Friday but for delivery to Chiba at premiums of about $15 a tonne to Japan quotes on a C&F basis.

* TERM TALKS: Kuwait is to finalise talks with Asian buyers for full-range naphtha and light grade scheduled for August 2018 to July 2019 delivery this week.

* CRACKER NEWS: Formosa has shut the smallest of three naphtha crackers - a 700,000 tonnes per year (tpy) unit - on June 5 for planned maintenance that will last until July.

* GASOLINE: Asia's gasoline crack recovered 3.1 percent to $6.59 a barrel after the value hit a one-month low in the previous session. - However, the current value was still 37 percent below the crack from a year ago as supplies remained high. <GL92-SIN-CRK> - Gasoline stocks held independently at the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub for instance rose to a three-week high in the week to Thursday to 1.05 million tonnes, according to data from Dutch consultancy PJK International. - This mirrored the trend in the United States where gasoline inventories were up.

* OTHER NEWS: Taiwan's Formosa Petrochemical Corp 6505.TW is running its 540,000 barrels per day (bpd) Mailiao refinery at near full capacity, unchanged from May following recent maintenance. - Citgo Petroleum Corp <PDVSAC.UL said a fire was quickly extinguished on Thursday at its 157,500 barrel-per-day Corpus Christi, Texas, refinery. nL2N1T91DI

* CASH DEALS: Four gasoline deals but none on naphtha. LIGHT DISTILLATES

CASH ($/T) ASIA CLOSE Chan % Prev RIC ge Chang Close


OSN Naphtha CFR Japan M1 657.50 7.25 1.11 650.25


OSN Naphtha CFR Japan M2 647.25 7.25 1.13 640.00


OSN Naphtha Diff 10.25 0.00 0.00 10.25


Naphtha Netback FOB Sing 71.45 0.82 1.16 70.63


Naphtha Diff FOB Sing 1.15 0.15 15.00 1.00


Naphtha-Brent Crack 80.68 -1.3 -1.67 82.05


7 CRK> Gasoline 97 87.10 1.35 1.57 85.75



Gasoline 95 85.85 1.35 1.60 84.50



Gasoline 92 83.50 1.35 1.64 82.15



Gasoline crack 6.59 0.20 3.13 6.39


For a list of derivatives prices, including margins, please

double click the RICs below. Brent M1

Naphtha CFR Japan M1

Naphtha CFR Japan M1/M2

Naphtha CFR Japan M2

Naphtha Japan-Sing Netback M1

Naphtha Japan-Sing Netback M2

Naphtha FOB Sing M1

Naphtha FOB Sing M1/M2

Naphtha FOB Sing M2

Naphtha Cracks M1

East-West Naphtha M1

East-West Naphtha M2

NWE Naphtha M1

NWE Naphtha M1/M2

NWE Naphtha M2

Crack NWE Naphtha-Brent M1

Crack NWE Naphtha-Brent M2

*Sing refers to Singapore

(Reporting by Seng Li Peng, Editing by Sherry Jacob-Phillips)