NAPHTHA REPORT
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Latest
Naphtha weak: cracks lower, bearish positioning, spreads/flows pressured; oversold hints short-term bounce risk
17 page report
From Top-J to Drop-J
Naphtha market sees a week of two halves; thinner market due to PFA; cross-product driven liquidity
17 page report
Naphtha finds its footing
Global naphtha markets rebound despite a softer start to the week, despite selling in the East...
17 page report
Uptrend in Lightends
Strength has returned to naphtha this week, with both M1 cracks reversing losses from the week prior.
17 page report
How low will the East go?
The Bollinger bands pinched last week in the M1 NWE naphtha crack and are widening again, typically a signal of a price breakout.....
17 page report
Value in Volatility…?
Naphtha strong but rangebound; Asia lighter slate, geopolitics hit positioning; E/W volatile
17 page report
Hungry for Naphtha
Naphtha tight on Hormuz closure; cracks firm, E/W volatile, gasnaph down, pronap weaker, OI up, momentum mixed across spreads
17 page report
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
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....
17 page report
Use the Force Majeure
Hormuz closure spikes naphtha cracks, but Asian petrochemical shutdowns curb demand. Expect volatile NWE strength, softer Asia prices
17 page report
The Best of the East/West…?
E/W strength on freight, propane strength and geopolitical worries in the Middle East
17 page report
Public Holiday Bears
Naphtha cracks weaken, while E/W and gasnaph find support; profit-taking and freight remain key.
17 page report
Bears Back to Work
NWE naphtha crack weakens in downtrend; funds and refiners add longs, but curve spreads still pressured.
17 page report