Asia's gasoline margin fell from a near eight-month high to a three-session low of $8.47 a barrel on Monday as the market calmed after a reaction last week caused by an explosion and fire last Friday at a project in Malaysia, owned by Petronas.
The incident took place at an atmospheric residue desulphurisation unit (ARDS) which was in its commissioning stage, Petronas said.
Asia's naphtha similarly eased from a near two-week high to a four-session low of $48.53 a tonne.
Most buyers have completed purchases for naphtha scheduled for second-half May delivery.
Taiwan's Formosa Petrochemical was among the last few to have scooped up the fuel for second-half May delivery.
Asia's top naphtha importer bought some 120,000 tonnes of open-specification naphtha for second-half May arrival at Mailiao at premiums of about $3.50 to $4.00 a tonne to its own price formula on a cost-and-freight (C&F) basis.
India's Bharat Petroleum Corp Ltd (BPCL) sold 35,000 tonnes of naphtha for early May loading from Kochi to Petro-Diamond at premiums of about $16 a tonne to its own price formula on a free-on-board (FOB) basis.
This is the first cargo it had sold out of Kochi this year.
India's naphtha exports have been low this year, with its February exports at 430,000 tonnes being the lowest monthly volume since October 2015, official data showed.
Separately, Hindustan Petroleum Corp Ltd (HPCL) has also sold to Petro-Diamond a prompt naphtha cargo scheduled for April 12-14 loading from Vizag last week at a discount of about $4 a tonne to its own price formula on a FOB basis.
Bahrain had sold up to 75,000 tonnes of naphtha for June 15-18 loading at premiums in the high teens a tonne level to Middle East quotes on a FOB basis.
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