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Petchem Paralysis

The Apr’26 NWE naphtha crack dropped to a low of -$5.00/bbl on 10 Mar, likely driven by profit taking on news of force majeures declared....
Published: March 16, 2026
Written by:
Mita Chaturvedi

Mita Chaturvedi

Research Associate, Flux
Mita Chaturvedi
17 page report
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Naphtha cracks in NWE and Asia first dipped at the start of the week before recovering these losses and rallying into the week amid continued supply disruptions in the Persian (Arabian) Gulf. The significant tightness in LPG and naphtha from the Persian Gulf has disrupted the Asian petrochemical market substantially, as seen by a slew of force majeure announcements by petrochemical players....

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