NEW DELHI, Dec 29 (Reuters) - Asia"s naphtha refining profit margin fell on Wednesday despite a decline in Middle Eastern inventories, as crude oil prices rose on tight supply. The crack slipped to $153.50 a tonne, down $2.5 from the previous close. Naphtha margins registered a loss of more than 6% last week on demand concerns. Stocks of light distillates at the Fujairah Oil Industry Zone, including gasoline and naphtha, dropped by 887,000 barrels on the week to 4.341 million barrels, according to industry information service S&P Global Platts. The gasoline crack in the region eased but traded above $10 a barrel amid a surge in global cases of Omicron COVID-19, which stoked demand fears. NEWS - Top oil exporter Saudi Arabia may implement deep price cuts for the crude it sells to Asia in February after Middle East benchmarks and spot prices slumped this month, industry sources said. read more - Oil prices edged towards $80 per barrel on Wednesday as global supply outages and declining U.S. inventories offset worries that rising coronavirus cases might reduce demand. read more CASH ($/T) ASIA CLOSE Change % Change Prev Close RIC OSN Naphtha CFR Japan M1 747.50 -1.00 -0.13 748.50 OSN Naphtha CFR Japan M2 731.50 -1.00 -0.14 732.50 OSN Naphtha Diff 16.00 0.00 0.00 16.00 Naphtha Netback FOB Sing 81.06 -0.11 -0.14 81.17 Naphtha Diff FOB Sing 0.40 0.00 0.00 0.40 Naphtha-Brent Crack 153.50 -2.50 -1.60 156.00 Gasoline 97 92.47 -1.49 -1.59 93.96 Gasoline 95 91.70 -1.54 -1.65 93.24 Gasoline 92 89.76 -1.77 -1.93 91.53 Gasoline crack 10.56 -1.97 -15.72 12.53 For a list of derivatives prices, including margins, please double click the RICs below. Brent M1 Naphtha CFR Japan M1 Naphtha CFR Japan M1/M2 Naphtha CFR Japan M2 Naphtha Japan-Sing Netback M1 Naphtha Japan-Sing Netback M2 Naphtha FOB Sing M1 Naphtha FOB Sing M1/M2 Naphtha FOB Sing M2 Naphtha Cracks M1 East-West Naphtha M1 East-West Naphtha M2 NWE Naphtha M1 NWE Naphtha M1/M2 NWE Naphtha M2 Crack NWE Naphtha-Brent M1 Crack NWE Naphtha-Brent M2 *Sing refers to Singapore