The Naphtha Price Trend remained elevated across major global markets during Q2 2026 following severe Middle East supply disruptions. The Strait of Hormuz crisis initially restricted Gulf exports, forcing Asian and European buyers to compete for alternative cargoes. This increased freight, replacement, and feedstock costs across international markets. 

However, conditions changed toward the end of the quarter as shipping stabilized, Middle Eastern supply gradually recovered, and geopolitical risk premiums declined. At the same time, weaker petrochemical margins, subdued cracker demand, and rising inventories reduced buying interest.

UAE: Light Paraffinic Naphtha FOB Jebel Ali

The UAE recorded an approximately 28% increase in the Naphtha Price Trend during Q2 2026. FOB Jebel Ali prices were supported by Middle Eastern supply disruptions and elevated geopolitical risk. Restricted shipping through the Strait of Hormuz tightened Gulf availability and encouraged Asian buyers to search for alternative cargoes.

As shipping conditions improved, regional supply normalized and emergency procurement eased. In June 2026, Naphtha Prices in the UAE declined by approximately 28.75% as Gulf export availability improved, geopolitical risk declined, and feedstock costs weakened.

USA: Light Paraffinic Naphtha FOB Houston

US Naphtha Prices increased by approximately 34% during Q2 2026. FOB Houston prices benefited from stronger competition for Atlantic Basin cargoes as Asian and European buyers sought alternatives following Middle Eastern supply disruptions.

Later, improving Gulf availability reduced international competition, while weaker petrochemical margins limited purchasing activity. June prices declined by approximately 17.27%. North American supply remained comparatively resilient because it was less directly exposed to the Strait of Hormuz disruption.

Netherlands: Light Paraffinic Naphtha FOB Rotterdam

The Netherlands recorded an approximately 33% increase in its Naphtha Price Trend during Q2. FOB Rotterdam prices were initially supported by increased competition for European cargoes as Asian buyers turned toward Atlantic Basin supplies.

The market weakened later as Gulf supply expectations improved and European inventories recovered. In June, Naphtha Prices declined by approximately 22.41%, reflecting lower geopolitical risk premiums, improved availability, and weaker downstream consumption.

Saudi Arabia: Light Paraffinic Naphtha FOB Jeddah

Saudi Arabia's Naphtha Prices increased by approximately 28% in Q2 2026. FOB Jeddah pricing was affected by supply uncertainty across the Middle East, while shipping disruptions through the Strait of Hormuz increased competition for available Gulf cargoes.

As geopolitical conditions improved, regional availability recovered. June prices declined by approximately 28.91%, reflecting restored supply confidence, lower logistical risks, and weaker Asian procurement.

Singapore: Light Paraffinic Naphtha FOB Singapore

Singapore's Naphtha Price Trend increased by approximately 30% during Q2. Tight Asian supply and competition for replacement cargoes supported FOB Singapore values. Asian buyers sought supplies from Europe, North Africa, and other origins as Middle Eastern exports were disrupted.

Improving Gulf supply and rebuilding inventories later reduced shortage concerns. In June, Naphtha Prices declined by approximately 30.15% as availability improved and downstream buying weakened.

Japan and South Korea

Japan recorded the strongest quarterly increase, with Naphtha Prices rising approximately 59% during Q2 2026. CIF Tokyo prices were highly exposed to Middle Eastern supply disruptions, encouraging Japanese buyers to secure additional cargoes. In June, prices declined by approximately 28.44%, although Japan retained the largest quarterly gain because replacement costs had remained exceptionally high earlier in the quarter.

South Korea recorded an approximately 41% increase in CIF Busan Naphtha Prices. Its dependence on Middle Eastern supplies made the market particularly sensitive to Strait of Hormuz disruptions. As alternative cargoes became available and import conditions improved, June prices declined by approximately 28.57%.

Mexico, Canada and Brazil

Mexico's Naphtha Prices increased by approximately 32% in Q2, while Canada recorded a 28% increase and Brazil approximately 32%. These markets benefited from access to US-linked supplies, reducing their direct exposure to Middle Eastern disruption. However, increased competition for Atlantic Basin cargoes still transmitted global cost pressure into the markets.

In June, prices declined by approximately 16.12% in Mexico, 14.71% in Canada, and 15.42% in Brazil as supply expectations improved and downstream demand weakened.

Germany, Belgium and France

European markets also recorded substantial quarterly increases. Germany's Naphtha Price Trend increased by approximately 32%, Belgium by 30%, and France by 33%. Early-quarter supply disruptions redirected Asian buyers toward European and Atlantic Basin cargoes, tightening regional availability.

As Gulf exports recovered and inventories rebuilt, prices corrected. June Naphtha Prices declined by approximately 21.30% in Germany, 21.66% in Belgium, and 20.13% in France.

India: Light Paraffinic Naphtha CIF Nhava Sheva

India recorded an approximately 43% increase in the Naphtha Price Trend during Q2 2026. CIF Nhava Sheva prices were strongly affected by Middle Eastern supply disruptions because Indian buyers compete for Gulf-origin cargoes with other Asian consumers.

Higher freight and logistical risks increased procurement pressure. As Gulf availability improved, emergency buying declined. In June, Indian Naphtha Prices fell by approximately 25.05%, reflecting improved supply, lower logistical risk, and weaker downstream demand.

Naphtha Price Chart

The Naphtha Price Chart for Q2 2026 shows a strong quarterly increase followed by significant June corrections. Japan recorded the highest quarterly gain at approximately 59%, followed by India at 43%, South Korea at 41%, the USA at 34%, and several other markets between approximately 28% and 33%.

The sharp June declines demonstrate how quickly prices responded once Middle Eastern supply improved and geopolitical risk premiums began to unwind.

Naphtha Price Index

The Naphtha Price Index reflected the severe supply tightness experienced during the earlier part of Q2. Restricted Gulf exports, higher freight costs, and competition for alternative cargoes pushed prices higher. By June, improving supply, lower crude-linked costs, rising inventories, and weaker petrochemical demand placed significant downward pressure on the index.

Factors Influencing Naphtha Prices

Key factors influencing the Naphtha Price Trend included Strait of Hormuz disruptions, Middle Eastern export availability, crude-linked feedstock costs, freight rates, geopolitical risk premiums, petrochemical and cracker demand, regional inventories, and competition for alternative cargoes.

Naphtha Price Forecast

The Naphtha Price Forecast will depend on Middle Eastern supply recovery, crude oil prices, freight conditions, inventories, and downstream petrochemical demand. Continued supply normalization and weaker cracker margins could keep prices under pressure. However, renewed geopolitical disruptions or shipping constraints could quickly tighten availability and push replacement costs higher.

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About Price Watch™

Price Watch™ is an India-based, independent raw material price reporting agency that provides real-time price forecasts and data-driven insights into global raw material markets. Price Watch™ specializes in tracking raw material prices, analyzing market trends, and delivering timely updates on plant shutdowns, supply disruptions, capacity expansions, and demand-supply dynamics. The Price Watch™ platform empowers manufacturers, traders, and procurement professionals to make faster, smarter decisions. Leveraging AI-powered forecasting and over a decade of historical data, Price Watch™ transforms market volatility into actionable opportunity.

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