Mita Chaturvedi
Research Associate, Flux
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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.
The naphtha complex remained sideways this week, though it saw a marginal grind down. In Europe, the Oct'26 NWE naphtha crack fell from -$3.55/bbl on 14 Sep to a low of -$6.65/bbl on 16 Sep, before climbing to -$4.45/bbl on 21 Sep (time of writing)....
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