Asia Naphtha/Gasoline-Naphtha crack gains but premiums down

SINGAPORE, June 13 (Reuters) - Asia's naphtha crack rose for a third straight day to reach a one-week high of $86.98 a tonne on Wednesday, lifted by falling oil prices. - But fundamentals were weaker than before as tight supplies have eased and this has affected spot premiums, traders said. - Japan's Showa Denko paid a premium of about $9 a tonne to Japan quotes on a cost-and-freight (C&F) basis for naphtha scheduled for second-half July arrival at Oita. - This was cheaper compared to cargoes scheduled for first-half July to South Korea, Taiwan and Japan at premiums of at least $15 a tonne. - Taiwan's Formosa, also the top naphtha importer in Asia, is expected to award a tender to buy cargoes for second-half July arrival at Mailiao. - Traders expect the petrochemical firm to pay no more than $9 to $10 a tonne premium versus a $15 a tonne premium it had paid previously for first-half July cargoes.

* TENDERS: Nayara Energy, previously known as Essar Oil, offered up to 35,000 tonnes of naphtha for July 11-15 loading from Vadinar through a tender closing on June 19. - Nayara Energy is majority owned by Russia's Rosneft and a consortium led by commodity trader Trafigura and UCP Investment Group.

* GASOLINE: Asia's gasoline crack stayed at a five-week low of $6.08 a barrel as lower oil price was countered by high supplies.

* CASH DEALS: No gasoline deals but there were two on naphtha.

* OTHER NEWS: France's biggest agriculture union told its farmers to suspend a blockade of refineries and fuel depots that had entered its third day over palm oil imports and unfair competition, a union official said. - Fuel distributors in Bosnia's autonomous Bosniak-Croat Federation agreed a deal with the regional government on Tuesday to cut fuel prices after drivers repeatedly blocked roads in protest against rising prices. - The U.S. Energy Information Administration on Tuesday raised its 2018 world oil demand growth forecast by 40,000 barrels per day (bpd) to 1.80 million bpd. - As for 2019, the International Energy Agency (IEA) expects global oil demand to grow by 1.4 million bpd in 2019, to top 100 million bpd by the second quarter of the year.

LIGHT DISTILLATES

CASH ($/T) ASIA CLOSE Change % Change Prev

Close RIC

OSN Naphtha CFR Japan M1 653.00 -5.50 -0.84

658.50 <NAF-1H-TYO>

OSN Naphtha CFR Japan M2 643.00 -5.50 -0.85

648.50 <NAF-2H-TYO>

OSN Naphtha Diff 10.00 0.00 0.00

10.00 <NAF-TYO-DIF>

Naphtha Netback FOB Sing 70.98 -0.58 -0.81

71.56 <NAF-SIN>

Naphtha Diff FOB Sing 1.20 0.00 0.00

1.20 <NAF-SIN-DIF>

Naphtha-Brent Crack 86.98 4.85 5.91

82.13 <NAF-SIN-CRK>

Gasoline 97 84.90 -1.75 -2.02

86.65 <GL97-SIN>

Gasoline 95 83.65 -1.75 -2.05

85.40 <GL95-SIN>

Gasoline 92 81.55 -1.65 -1.98

83.20 <GL92-SIN>

Gasoline crack 6.08 -0.27 -4.25

6.35 <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 David Evans)