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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.

LIGHT DISTILLATES

CASH ($/T) ASIA CLOSE Change % Prev

RIC Change Close

OSN Naphtha CFR Japan M1 658.50 3.50 0.53 655.00

<NAF-1H-TYO>

OSN Naphtha CFR Japan M2 648.50 3.50 0.54 645.00

<NAF-2H-TYO>

OSN Naphtha Diff 10.00 0.00 0.00 10.00

<NAF-TYO-DIF>

Naphtha Netback FOB Sing 71.56 -0.11 -0.15 71.67

<NAF-SIN>

Naphtha Diff FOB Sing 1.20 0.00 0.00 1.20

<NAF-SIN-DIF>

Naphtha-Brent Crack 82.13 0.28 0.34 81.85

<NAF-SIN-CRK>

Gasoline 97 86.65 0.25 0.29 86.40

<GL97-SIN>

Gasoline 95 85.40 0.20 0.23 85.20

<GL95-SIN>

Gasoline 92 83.20 0.05 0.06 83.15

<GL92-SIN>

Gasoline crack 6.35 -0.38 -5.65 6.73

<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)