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Naphtha catches a break

The overall market split in flows in the NWE crack vs Onyx highlights a still-short market, suggesting further room for profit-taking....
Published: June 15, 2026
Written by:
Mita Chaturvedi

Mita Chaturvedi

Research Associate, Flux
Mita Chaturvedi
and
Martha Dowding

Martha Dowding

Research Associate, Flux
Martha Dowding
17 page report
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  • Naphtha has seen better support this week. The Jul’26 NWE naphtha crack inched up from around -$12/bbl on 08 Jun to -$9/bbl on 15 Jun at the time of writing. Net positioning in the front NWE crack vs Onyx showed short-positioned players trimming positions, driven by trade houses - pointing to potential profit-taking...

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Written by

Mita Chaturvedi

Research Associate, Flux
Mita Chaturvedi

Martha Dowding

Research Associate, Flux
Martha Dowding

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