NAPHTHA REPORT
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Cracks in both regions consolidate, with the MOPJ curve outpaces Europe
17 page report
Power Nap
Naphtha cracks consolidate as East leads; E/W rebounds, while pronap buying strengthens with high-conviction hedger length.
17 page report
Revival
Naphtha rebounds after early weakness, but East remains bearish; rising E/W selling and FEI/MOPJ pressure shape the trade.
17 page report
Testing Support?
The naphtha complex continued to weaken into this week....
17 page report
Peak and Fade
Hormuz spike fades as positioning turns bearish
17 page report
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
Bullish Blender
Naphtha rally continues on blending demand and geopolitical risk; fund buying in Q4'26 NWE cracks
17 page report
Blenders Gotta Blend
Naphtha cracks firm, but trade houses sell E/W heavily; bearish engulfing points to downside in the East/West spread.
17 page report
(NWE) Naphtha Rising
Naphtha stayed firm on European supply tightness, while Asia lagged; technicals suggest bullish momentum is fading
17 page report
Can The Bulls Hang On?
Naphtha cracks reversed lower after midweek gains; trends remain bearish but weakening, with consolidation expected.
17 page report
Naphtha catches a break
The overall market split in flows in the NWE crack vs Onyx highlights a still-short market, suggesting further room for profit-taking....
17 page report
Weakness in the East?
Exchange-traded open interest has eased in the Jul'26 naphtha E/W, alongside a drop in net long positioning...
17 page report
Naphtha Cracks Under Pressure
Naphtha weak: cracks lower, bearish positioning, spreads/flows pressured; oversold hints short-term bounce risk
17 page report