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Can The Bulls Hang On?

Naphtha cracks reversed lower after midweek gains; trends remain bearish but weakening, with consolidation expected.
Published: June 22, 2026
Written by:
Mita Chaturvedi

Mita Chaturvedi

Research Associate, Flux
Mita Chaturvedi
and
Donna Dong

Donna Dong

Research Analyst, Flux
Donna Dong
17 page report
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The naphtha complex saw a mid-week reversal this week, with the Jul’26 NWE naphtha crack initially rising from -$9.80/bbl on 15 Jun to the week’s high of -$5.60/bbl on 18 Jun, before declining to -$6.60/bbl as of the time of writing.

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Written by

Mita Chaturvedi

Research Associate, Flux
Mita Chaturvedi

Donna Dong

Research Analyst, Flux
Donna Dong

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