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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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Latest

Bulls Charge East

In the E/W, momentum is positive. The 14,3,3 stochastic oscillator is well in overbought territory, but is not showing signs of reversal...
17 page report
12 October 2026

Leading from the East

MOPJ spreads flip to the buy-side; M1 East/West reached $70/mt; scaleback selling in gasnap and FEI/MOPJ
17 page report
5 October 2026

Selling in MOPJ Spreads

Naphtha weakens: NWE crack falls to -$5.66; MOPJ crack drops to $0.33; E/W plunges on Japan weakness; FEI/MOPJ and gasnap diffs hold firmer.
17 page report
28 September 2026

Weakness in the West

Open interest remains in line with the 5-year average, as trade houses trimmed their longs against Onyx in the prompt NWE crack.
17 page report
21 September 2026

No Ending the Blending

Naphtha sideways as cracks weaken; petchem buying and blending demand support, while E/W strength may be amplified by short covering.
17 page report
14 September 2026

NWE Crack Buying, Spread Selling

The naphtha complex has seen a sideways week,
17 page report
7 September 2026

Cracks Flat

Cracks in both regions consolidate, with the MOPJ curve outpaces Europe
17 page report
24 August 2026

Power Nap

Naphtha cracks consolidate as East leads; E/W rebounds, while pronap buying strengthens with high-conviction hedger length.
17 page report
17 August 2026

Revival

Naphtha rebounds after early weakness, but East remains bearish; rising E/W selling and FEI/MOPJ pressure shape the trade.
17 page report
10 August 2026

Testing Support?

The naphtha complex continued to weaken into this week....
17 page report
3 August 2026

Peak and Fade

Hormuz spike fades as positioning turns bearish
17 page report
27 July 2026

Propane vs Naphtha

Naphtha supported by Middle East tensions and East/West strength, with open interest concentrated in Aug'26 MOPJ crack.
17 page report
20 July 2026

Bullish Blender

Naphtha rally continues on blending demand and geopolitical risk; fund buying in Q4'26 NWE cracks
17 page report
13 July 2026