Naphtha Price Trend Q2 2026 | Price Trends, Forecast, Chart, Prices and Index

 The Naphtha Price Trend in Q2 2026 was shaped by a sharp supply disruption in the Middle East followed by a significant market correction toward June. At the beginning of the quarter, restrictions around the Strait of Hormuz affected Gulf exports and increased competition for available cargoes. Asian and European buyers looked for alternative supplies, pushing freight, replacement, and feedstock costs higher.

As shipping conditions gradually improved, Middle Eastern supply began to recover and the earlier geopolitical premium started to unwind. At the same time, weaker petrochemical margins, subdued cracker demand, and rising inventories reduced purchasing interest. These changes were clearly reflected in the Naphtha Price Chart and Naphtha Price Index.

Global Naphtha Market Overview

The Q2 2026 market can broadly be divided into two phases. During the early part of the quarter, supply security was the primary concern. Disrupted Gulf exports forced buyers to compete for alternative cargoes, creating significant upward pressure across several international markets.

The situation changed during June. Improving shipping conditions, recovering Middle Eastern availability, lower crude-linked costs, and weaker downstream consumption encouraged prices to correct. Petrochemical producers also became more cautious because weaker margins reduced the incentive to purchase expensive feedstock.

This resulted in a strong quarterly increase in many markets despite substantial monthly declines during June.

UAE Naphtha Price Trend

The Naphtha Price Trend in the UAE showed an approximately 28% increase during Q2 2026 for Light Paraffinic Naphtha FOB Jebel Ali.

The increase was mainly associated with Middle Eastern supply uncertainty and elevated geopolitical risk. Restrictions around the Strait of Hormuz reduced the availability of Gulf-origin cargoes and encouraged Asian buyers to search for alternative supplies.

As shipping conditions improved, regional availability gradually normalized and emergency procurement declined. In June, Naphtha Prices in the UAE decreased by approximately 28.75%. The sharp correction reflected improving Gulf export availability, easing geopolitical concerns, and lower feedstock costs.

USA Naphtha Price Trend

Light Paraffinic Naphtha FOB Houston prices increased by approximately 34% during Q2 2026.

The US market benefited from increased competition for Atlantic Basin cargoes as Asian and European buyers searched for alternatives following Middle Eastern supply disruptions. This created additional demand for US-linked material.

However, the improvement in Gulf supply reduced international competition later in the quarter. Weaker petrochemical margins also limited purchasing activity. As a result, June Naphtha Prices in the USA declined by approximately 17.27%.

North American supply remained comparatively resilient because it was less directly exposed to the Strait of Hormuz disruption, although weaker downstream demand and declining replacement costs still pressured prices toward the end of the quarter.

Netherlands Naphtha Prices

The Netherlands recorded an approximately 33% quarterly increase in Light Paraffinic Naphtha FOB Rotterdam prices.

European buyers faced increased competition for available cargoes after Middle Eastern supply disruptions redirected Asian demand toward Atlantic Basin material. This tightened regional availability and increased replacement costs.

Conditions later became more balanced as Gulf supply expectations improved and European inventories were rebuilt. Weaker petrochemical demand also reduced buying interest. In June, Naphtha Prices in the Netherlands declined by approximately 22.41%.

Despite the monthly correction, Rotterdam maintained a strong quarterly increase because prices had remained elevated during the earlier supply disruption.

Saudi Arabia Naphtha Price Trend

Light Paraffinic Naphtha FOB Jeddah prices increased by approximately 28% in Q2 2026.

The market was strongly influenced by uncertainty surrounding Middle Eastern supply. Disruptions around the Strait of Hormuz restricted regional exports and increased competition for available Gulf cargoes. Higher logistics risks also increased replacement costs.

As shipping conditions stabilized, Middle Eastern availability improved and procurement pressure eased. June Naphtha Prices in Saudi Arabia declined by approximately 28.91%.

The sharp correction reflected improved supply confidence, lower logistical risks, and weaker Asian procurement.

Singapore Naphtha Price Trend

Singapore Light Paraffinic Naphtha FOB prices increased by approximately 30% during Q2 2026.

The market was supported by tight Asian supply and strong competition for replacement cargoes. Middle Eastern export disruptions encouraged Asian buyers to source material from Europe, North Africa, and other alternative origins.

As Gulf supply improved and inventories started rebuilding, shortage concerns eased. Weak petrochemical margins also limited cracker feedstock demand. Consequently, June Naphtha Prices in Singapore declined by approximately 30.15%.

Japan Naphtha Price Trend

Japan recorded the strongest quarterly increase among the markets covered, with Light Paraffinic Naphtha CIF Tokyo prices rising by approximately 59% in Q2 2026.

Japan's high exposure to Middle Eastern supply made the market particularly sensitive to the disruption. Concerns about Gulf-origin feedstock availability encouraged buyers to secure additional cargoes and compete for alternative supplies.

As supply security improved, emergency procurement eased. Weaker petrochemical margins also reduced buying appetite. In June, Naphtha Prices in Japan declined by approximately 28.44%.

Despite this monthly decline, Tokyo retained the strongest quarterly appreciation because supply concerns and replacement costs remained exceptionally high during the earlier stages of Q2.

South Korea Naphtha Price Trend

Light Paraffinic Naphtha CIF Busan prices increased by approximately 41% during Q2 2026.

South Korea's dependence on Middle Eastern naphtha supplies made the market vulnerable to the disruption around the Strait of Hormuz. Concerns over domestic feedstock availability encouraged buyers to secure alternative cargoes.

As shipping conditions improved, emergency procurement gradually eased and supply availability recovered. In June, Naphtha Prices in South Korea declined by approximately 28.57%.

The correction was driven by better import availability, reduced supply-security concerns, and weaker petrochemical demand.

Mexico Naphtha Price Trend

Mexico recorded an approximately 32% increase in Light Paraffinic Naphtha CIF Manzanillo prices during Q2 2026.

Higher international feedstock costs and stronger competition for Atlantic Basin cargoes supported the market. Mexico's access to US-linked supply provided some protection from direct Middle Eastern disruption, but international competition still increased procurement costs.

As global supply conditions improved and crude-linked costs declined, the market corrected. June Naphtha Prices in Mexico decreased by approximately 16.12%.

Canada Naphtha Price Trend

Light Paraffinic Naphtha CIF Montreal prices increased by approximately 28% during Q2 2026.

Canadian buyers benefited from US-linked availability, but stronger international demand for Atlantic Basin cargoes increased competition and supported prices.

With Middle Eastern exports gradually recovering, international competition eased. In June, Naphtha Prices in Canada declined by approximately 14.71% as geopolitical risks reduced and petrochemical procurement weakened.

Brazil Naphtha Price Trend

Brazilian Light Paraffinic Naphtha CIF Santos prices increased by approximately 32% during Q2 2026.

Higher international feedstock costs and increased competition for Atlantic Basin supplies supported the quarterly increase. Although access to US-linked cargoes reduced direct exposure to the Middle Eastern disruption, displaced demand from other markets increased competition.

In June, Naphtha Prices in Brazil declined by approximately 15.42% as supply availability improved and downstream demand weakened.

Germany Naphtha Price Trend

Germany recorded an approximately 32% increase in Light Paraffinic Naphtha FD Hamburg prices during Q2 2026.

The market experienced stronger competition for European cargoes after Middle Eastern supply disruptions redirected Asian buyers toward alternative sources. European availability tightened as displaced demand competed for regional and Mediterranean material.

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

Belgium Naphtha Price Trend

Belgium's Light Paraffinic Naphtha FD Antwerp prices increased by approximately 30% during Q2 2026.

Early-quarter supply concerns strengthened competition for Northwest European cargoes as Asian buyers searched for alternatives to disrupted Gulf supplies.

By June, improving regional inventories and declining geopolitical risks reduced the earlier premium. Naphtha Prices in Belgium declined by approximately 21.66% during the month.

France Naphtha Price Trend

France recorded an approximately 33% increase in Light Paraffinic Naphtha FD Le Havre prices during Q2.

The increase was supported by stronger demand for European cargoes after Middle Eastern disruptions affected traditional supply routes. Competition for European and Mediterranean material increased replacement costs.

As geopolitical conditions eased and supply availability improved, June Naphtha Prices in France declined by approximately 20.13%.

India Naphtha Price Trend

India recorded an approximately 43% increase in Light Paraffinic Naphtha CIF Nhava Sheva prices during Q2 2026.

The market was strongly affected by Middle Eastern supply disruptions because Indian buyers compete for Gulf-origin cargoes with other Asian consumers. Higher freight and logistical risks added further pressure to procurement costs.

As Gulf availability improved and alternative supplies became easier to access, emergency buying declined. In June, Naphtha Prices in India decreased by approximately 25.05%.

Naphtha Price Chart and Price Index

The Naphtha Price Chart for Q2 2026 shows a common pattern across most markets: a strong increase during the earlier part of the quarter followed by a sharp correction in June.

Japan recorded the highest quarterly increase at approximately 59%, followed by South Korea at 41%, India at 43%, the USA at 34%, the Netherlands and France at 33%, and several other markets between approximately 28% and 32%.

The Naphtha Price Index similarly reflected the changing market balance. Supply disruption, freight costs, replacement demand, crude-linked costs, inventories, and petrochemical margins all contributed to the movement.

Factors Influencing Naphtha Prices

Several factors played an important role in the Q2 2026 market. The first was Middle Eastern supply availability. Restrictions around the Strait of Hormuz created immediate concerns over Gulf-origin cargoes.

Freight and logistics were another major factor. When shipping becomes more difficult or expensive, delivered naphtha costs can increase even when physical supply remains available.

Crude oil prices also influenced the market. During Q2, Brent crude moved through a particularly wide range, reaching around $118 per barrel in April before falling sharply toward the end of June.

Petrochemical margins were another important factor. Weaker cracker economics reduced feedstock purchasing and contributed to the June correction. Current market analysis also identifies crude movements, refinery operating rates, and cracker demand as key factors for naphtha pricing.

Naphtha Price Forecast

The Naphtha Price Forecast remains closely linked to crude oil prices, refinery operations, international shipping conditions, petrochemical margins, inventories, and the availability of Middle Eastern cargoes.

The Q2 2026 experience demonstrated that naphtha prices can move sharply when supply security changes. The initial disruption created strong upward pressure, while improved availability and weaker downstream demand triggered a rapid correction.

For procurement teams and market participants, monitoring crude prices, refinery operating rates, freight costs, inventories, cracker margins, and regional supply conditions will remain important for understanding future Naphtha Prices and the direction of the Naphtha Price Trend.

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