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Pendulum Swings

The closure of the Strait of Hormuz and disruption of feedstock flows have compounded supply tightness concerns in the Asian petrochemical..
Published: March 23, 2026
Written by:
Mita Chaturvedi

Mita Chaturvedi

Research Associate, Flux
Mita Chaturvedi
and
Vincent Wu

Vincent Wu

Research Associate, Flux
Vincent Wu
Reviewed by:
Donna Dong

Donna Dong

Research Analyst, Flux
Donna Dong
17 page report
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The naphtha swaps complex saw another strong week, with NWE cracks briefly flipping positive and eyeing all-time highs. The closure of the Strait of Hormuz and disruption of feedstock flows have compounded supply tightness concerns in the Asian petrochemical market. The Apr'26 NWE crack rallied up from -$5 to over $1/bbl, while spreads were bid up on higher crude....

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Written by

Mita Chaturvedi

Research Associate, Flux
Mita Chaturvedi

Vincent Wu

Research Associate, Flux
Vincent Wu

About Naphtha Report

Get a mix of market commentary, flow-based analysis, and prompt insights in this premium weekly report about naphtha markets.

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Pendulum Swings

The closure of the Strait of Hormuz and disruption of feedstock flows have compounded supply tightness concerns in the Asian petrochemical..
17 page report

Who’s keeping count?

Edition: Euro Edition
Quiet North Sea, jumpy flat price and loudmouth Trump all in one day!

Guess who’s back!

Edition: Asia Edition
OPEC rumours regarding the supply gun came out and flat price took a hit. Meanwhile, India's Russian appetite is still a question

Red is the colour of the day

Edition: Euro Edition
The market is getting crushed left and right folks!