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

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

e

OSN Naphtha CFR Japan M1 657.50 7.25 1.11 650.25

<NAF-1H-T YO>

OSN Naphtha CFR Japan M2 647.25 7.25 1.13 640.00

<NAF-2H-T YO>

OSN Naphtha Diff 10.25 0.00 0.00 10.25

<NAF-TYO- DIF>

Naphtha Netback FOB Sing 71.45 0.82 1.16 70.63

<NAF-SIN>

Naphtha Diff FOB Sing 1.15 0.15 15.00 1.00

<NAF-SIN- DIF>

Naphtha-Brent Crack 80.68 -1.3 -1.67 82.05

<NAF-SIN-

7 CRK> Gasoline 97 87.10 1.35 1.57 85.75

<GL97-SIN

>

Gasoline 95 85.85 1.35 1.60 84.50

<GL95-SIN

>

Gasoline 92 83.50 1.35 1.64 82.15

<GL92-SIN

>

Gasoline crack 6.59 0.20 3.13 6.39

<GL92-SIN -CRK>

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)