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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

Naphtha Gets a Propane Boost

Naphtha swaps recover in both East and West; FEI strength boosts MOPJ; gasnap retreats sharply
17 page report
2 November 2026

Bearish momentum fades in naphtha

Eastern naphtha may see demand-side support, with the M1 FEI/MOPJ spread flirting with positive handles, making naphtha attractive....
17 page report
26 October 2026

MOPJ Bulls Peter Out

Bullish pressure fades in MOPJ amid weakening fundamentals and freight; NWE gasnap collapses as EBOB sells off
17 page report
19 October 2026

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