SINGAPORE, Jan 23 (Reuters) - Asia's gasoline refining margin extended gains for a second straight session on Thursday, but held near recent multi-month lows amid ample supply.

The crack for the motor fuel GL92-SIN-CRK closed at $4.68 a barrel on Thursday, buoyed by lower crude prices during Asia trading hours.

Spot trade for gasoline picked up in recent sessions, while strong bids lent some support to outright gasoline prices.

As for the naphtha market, refining margins NAF-SIN-CRK softened day-on-day at $81.83 a barrel, with cracks hovering in rangebound levels during recent sessions.

Meanwhile, light distillate inventories O/SING1 in Singapore fell for a third consecutive week to 14.55 million barrels in the week ended Jan. 22, hitting their lowest in seven weeks, Enterprise Singapore data showed.

NEWS

Oil prices dipped in Asia trade on Thursday, extending losses amid uncertainty over how U.S. President Donald Trump's proposed tariffs and energy policies would impact global economic growth and energy demand. O/R

Saudi Arabia's state oil company Aramco bought its first cargo of WTI Midland, a U.S. crude oil grade that underpins the global Brent benchmark, oil-index publisher S&P Global Commodity Insights said.

LyondellBasell Industries will begin the permanent closure of its 263,776 barrel-per-day Houston refinery this coming weekend, said people familiar with plant operations.

Australia's Ampol estimated a steep drop in annual earnings as production at its Lytton refinery in Queensland was hit by operational constraints and lower refining margins.

SINGAPORE CASH DEALS O/AS

One octane-95 gasoline trade, one naphtha trade.

PRICES

(Reporting by Jeslyn Lerh; Editing by Shounak Dasgupta)

((jeslyn.lerh@thomsonreuters.com))