Asia Naphtha/Gasoline-Naphtha gains; Formosa seeks July cargoes

SINGAPORE, June 12 (Reuters) - Asia's naphtha crack extended gains for a second day to reach a four-session high of $82.13 a tonne on Tuesday due to higher demand. - Taiwan's Formosa Petrochemical sought open-specification naphtha for second-half July arrival at Mailiao through a tender due to be awarded on June 14. - It had in late May bought the fuel for first-half July arrival at Mailiao at premiums of about $15 a tonne to its own price formula on a cost-and-freight (C&F) basis. - That was the highest premium it had paid since 2014. - Earlier this month, Formosa shut the smallest of the three naphtha crackers for a planned maintenance.

* TENDERS: Indian Oil Corp sold 35,000 tonnes of naphtha to Vitol for July 1-3 loading from Chennai, but the premium was unknown, traders said. - Mangalore Refinery and Petrochemicals Ltd (MRPL) has an outstanding tender to sell 35,000 tonnes for July 10-12 loading from New Mangalore.

* GASOLINE: Asia's gasoline crack hit a five-week low of $6.35 a barrel as high stocks weighed, but India appeared to be a bright spot with surging demand. - India's domestic sales for diesel and gasoline, for instance, rose to record highs in May, with consumption of the latter having climbed to 2.46 million tonnes. - That made its gasoline consumption reaching the highest monthly sales figure in the Petroleum Planning and Analysis Cell (PPAC) data going back to April 1998. - However, in the United States, analysts have forecast that stockpiles of gasoline had risen by about 100,000 barrels last week.

* CASH DEALS: Three gasoline deals but none on naphtha.

* OTHER NEWS: Royal Dutch Shell on Monday reported a small fire and explosion during maintenance on a tank at its Carson, California distribution facility. - There was about 60,100 barrels of gasoline in the tank when the incident occurred. - Sinopec said its Tianjin refinery will be able to produce 120,000 tonnes of ethanol gasoline per month by October 1, a deadline for the city to replace traditional fuel with biofuel.


CASH ($/T) ASIA CLOSE Change % Prev

RIC Change Close

OSN Naphtha CFR Japan M1 658.50 3.50 0.53 655.00


OSN Naphtha CFR Japan M2 648.50 3.50 0.54 645.00


OSN Naphtha Diff 10.00 0.00 0.00 10.00


Naphtha Netback FOB Sing 71.56 -0.11 -0.15 71.67


Naphtha Diff FOB Sing 1.20 0.00 0.00 1.20


Naphtha-Brent Crack 82.13 0.28 0.34 81.85


Gasoline 97 86.65 0.25 0.29 86.40


Gasoline 95 85.40 0.20 0.23 85.20


Gasoline 92 83.20 0.05 0.06 83.15


Gasoline crack 6.35 -0.38 -5.65 6.73


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)