NEW DELHI, May 20 (Reuters) - Asia's naphtha prices dropped sharply on Wednesday mirroring the losses in crude oil benchmarks, although concerns around July supplies persisted.

The price for first-half July naphtha declined by about $56 to $973 per ton and traded $48 higher than first-half August prices. Refining profit also eased to about $149 per ton over Brent crude.

In the gasoline market, the refining profit traded firm at about $21 per barrel over Brent crude on Wednesday amid concerns around tight supplies and strong summer demand hopes.

Meanwhile, stocks of light distillates, including both naphtha and gasoline, fell to a fresh low of 2.496 million barrels in the week to May 18, data from S&P Global Commodity Insights showed.

NEWS

- Oil prices lost about 1% on Wednesday after U.S. President Donald Trump again asserted that the Iran war would end "very quickly," though investors remain wary about the outcome of peace talks as disruption to Middle Eastern supply continues. O/R

- Two supertankers exited the Strait of Hormuz on Wednesday while another is making its way out after waiting in the Gulf for more than two months with 6 million barrels of Middle East crude oil onboard, shipping data on LSEG and Kpler showed.

SINGAPORE CASH DEALS O/AS

One gasoline trade.

PRICES

CASH	ASIA CLOSE	Change	Prev Close	RIC
OSN Naphtha CFR Japan M1 ($/mt)	973.00	-56.25	1029.25	NAF-1H-TYO
OSN Naphtha CFR Japan M2 ($/mt)	925.00	-56.25	981.25	NAF-2H-TYO
OSN Naphtha Diff ($/mt)	48.00	0.00	48.00	NAF-TYO-DIF
Naphtha Netback FOB Sing ($/bbl)	106.11	-6.25	112.36	NAF-SIN
Naphtha-Brent Crack ($/mt)	149.13	-52.50	201.63	NAF-SIN-CRK
Gasoline 97 ($/bbl)	137.30	-2.05	139.35	GL97-SIN
Gasoline 95 ($/bbl)	135.69	-2.05	137.74	GL95-SIN
Gasoline 92 ($/bbl)	131.00	-2.05	133.05	GL92-SIN
Gasoline crack ($/bbl)	21.15	-1.55	22.70	GL92-SIN-CRK
For a list of derivatives prices, including margins, please double click the RICs below.
Brent M1	BRENTSGMc1
Naphtha CFR Japan M1	NACFRJPSWMc1
Naphtha CFR Japan M1/M2	NACFRJPSDMc1
Naphtha CFR Japan M2	NACFRJPSWMc2
Naphtha Japan-Sing Netback M1	NAPTC4SPDMc1
Naphtha Japan-Sing Netback M2	NAPTC4SPDMc2
Naphtha FOB Sing M1	NAFOBSGSWMc1
Naphtha FOB Sing M1/M2	NAFOBSGSDMc1
Naphtha FOB Sing M2	NAFOBSGSWMc2
Naphtha Cracks M1	NACFRJPCKMc1
East-West Naphtha M1	NAPJPEWMc1
East-West Naphtha M2	NAPJPEWMc2
NWE Naphtha M1	NAPCNWEAMc1
NWE Naphtha M1/M2	NAPCNWEASMc1
NWE Naphtha M2	NAPCNWEAMc2
Crack NWE Naphtha-Brent M1	NAPCNWEACMc1
Crack NWE Naphtha-Brent M2	NAPCNWEACMc2
*Sing refers to Singapore