SINGAPORE: Naphtha and gasoline cracks rose on Thursday as traders expect lower supplies ahead. Spot premiums for naphtha deliveries to north Asia in second-half March have edged up or held steady from the first half of the month, as traders anticipate tighter supplies from Europe.

Robust demand for naphtha in Europe has narrowed the east-west spread which could reduce cargoes arriving in Asia in second-half of March, traders said. Singapore’s PCS closed on Thursday a tender seeking naphtha with minimum 77% paraffin content for second-half March delivery.

Spot premiums for March-loading gasoline have also crept higher after Taiwanese refiner Formosa Petrochemical sold a 93-octane cargo loading on March 10-14 at a premium of more than 60 cents a barrel to Singapore quotes, slightly higher than a previous deal last month, traders said.

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