Naphtha cracks have been pressured by slow spot demand since the end of the previous week as well as expectations of ample arbitrage supplies over the coming months.

NAPHTHA TENDERS

- India's Mangalore Refinery and Petrochemicals Ltd (MRPL) is offering 35,000 tonnes of naphtha for July 21-23 loading from New Mangalore on a free-on-board (FOB) basis in a tender closing on June 28 with next validity.

- MRPL in the previous week sold 35,000 tonnes of naphtha for loading on July 14-16 at $11 a tonne above Middle East quotes to Gunvor. The premium is $3.50 lower than its previous deal for an early July loader.

GASOLINE

- Asia's gasoline crack also edged higher to $8.90 a barrel, slightly up from Monday's two-session low of $8.88 a barrel.

- Industry sources said gasoline refining margins have been weighed down by concerns of weak demand for the fuel as well as ample stocks in the United States.

- A total of 400,000 barrels of gasoline traded in the Platts window on Tuesday, the most in at least a month, data compiled by Reuters showed.

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GASOLINE TENDERS

- MRPL is seeking 25,000 tonnes of reformate in a tender closing on June 28 with next day validity. The delivery periods for the gasoline blendstock are scheduled for July 21-23 on an FOB basis, or later on Aug. 1-10 on a cost-and-freight (CFR) basis.

SINGAPORE CASH DEALS: 10 deals, of which eight were on gasoline and two on naphtha.