Asia Naphtha/Gasoline-Naphtha December spot activity upbeat; gasoline eases

SINGAPORE, Nov 13 (Reuters) - Asia's naphtha spot discussions were largely for December shipments, with a handful of importers seeking to cover their regular requirements before the year ends, though window activity remained curtailed.

Discussions were mixed, with some buyers mentioning slightly looser supplies for certain grades of naphtha, while heavy naphtha availability was still limited.

Some late week procurement for second-half December cargoes were done at premiums of $20 to $30 per metric ton, though traders are expecting activity to taper down soon as year-end buying winds down.

Meanwhile, Taiwan's FPCC cancelled its tender to buy one 30,000-ton cargo for December delivery.

Naphtha refining margins softened further to around $186 a ton.

A handful of regional refiners were also close to confirming their term volumes for next year, though further details could not be confirmed.

For gasoline markets, front-month timespreads and margins logged weekly losses, with overall trading sentiment weak.

Talks of ample regional supplies continued to weigh on market fundamentals, despite some December buying interest.

Term negotiations were also underway for some refiners and regional importers.

Octane-92 refining margins dipped back to one-week lows of slightly below $9 a barrel.

INVENTORY NEWS

- Gasoline stocks independently held in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub rose 14% on the week, data from Dutch consultancy Insights Global showed on Thursday. ARA/

NEWS

- Abu Dhabi National Oil Company (ADNOC) is expected to complete a second crude oil pipeline by around January, doubling the capacity of its existing onshore pipeline to about 3.6 million barrels per day (bpd), an Inpex 1605.T executive said.

- President Donald Trump's administration is set to extend a waiver for a US law in the coming days, allowing some foreign-flagged ships to transport oil and other commodities between US ports, four industry sources said on Thursday.

- The world oil market will return to a surplus in the fourth quarter of this year, the International Energy Agency said on Friday, as Middle East exports recover faster than global oil demand despite continued attacks on shipping.

SINGAPORE CASH DEALS O/AS

- Three gasoline deals, no naphtha deal

PRICES