Asia Naphtha/Gasoline-Naphtha crack rises; MRPL offers prompt gasoline

NEW DELHI, Jan 7 (Reuters) - Asia's naphtha refining profit margin rose on Wednesday amid upbeat activity at the window and the backwardation structure between second-half February and second-half March prices widened by 50 cents to $3.25 per ton.

The crack climbed to $83.20 per ton over Brent crude compared with $75.55 a day earlier.

In the gasoline market, the refining profit margin was down slightly to $9.46 per barrel over Brent crude from $10.04 in the previous session.

In tenders, India's MRPL offered two parcels of 92-octane grade gasoline of 35,000 tons and 40,000 tons respectively in a tender that closes on Wednesday with same-day validity.

Meanwhile, light distillate stocks at the Fujairah trading hub rose by about 1 million barrels to 7.665 million barrels in the week to January 5, S&P Global Commodity Insights data showed. FUJAIRAH/

NEWS

- Oil prices fell after President Donald Trump said the United States had reached a deal to import up to $2 billion worth of Venezuelan crude, a move that is expected to increase supplies to the world's largest oil consumer. O/R

- Trump on Tuesday unveiled a plan to refine and sell up to 50 million barrels of Venezuelan oil that had been stuck in Venezuela under U.S. blockade, in a further sign that Washington is coordinating with the Venezuelan government since capturing President Nicolas Maduro.

SINGAPORE CASH DEALS O/AS

Two gasoline trades, one naphtha deal.

PRICES