NAPHTHA REPORT
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Latest
Naphtha swaps recover in both East and West; FEI strength boosts MOPJ; gasnap retreats sharply
17 page report
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
MOPJ Bulls Peter Out
Bullish pressure fades in MOPJ amid weakening fundamentals and freight; NWE gasnap collapses as EBOB sells off
17 page report
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
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
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
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
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
NWE Crack Buying, Spread Selling
The naphtha complex has seen a sideways week,
17 page report
Cracks Flat
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