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

 The Naphtha Price Trend in Q2 2026 showed a strong rise during the early part of the quarter, followed by a sharp correction in June. The main reason for the initial increase was the severe disruption in Middle Eastern supply and uncertainty around shipping through the Strait of Hormuz. 

Asian and European buyers had to compete for alternative cargoes, which increased freight costs, replacement costs, and overall procurement pressure. As shipping conditions improved later in the quarter, supply gradually recovered and the earlier risk premium started to disappear.

The movement in Naphtha Prices was different from one region to another, but the overall pattern was similar. Prices increased strongly during April and May when buyers were concerned about supply availability. By June, improving Gulf exports, lower feedstock costs, rebuilding inventories, and weaker petrochemical demand caused prices to fall across most markets.

The Naphtha Price Chart clearly reflects this change in market direction. The first part of Q2 was marked by tight supply and strong replacement demand, while June showed a broad correction. The Naphtha Price Index also reflected the transition from supply disruption toward a more balanced market environment.

Global Naphtha Price Trend in Q2 2026

The global naphtha market entered Q2 2026 under significant supply pressure. The disruption around the Strait of Hormuz affected traditional Gulf export flows and created uncertainty for buyers that depended on Middle Eastern cargoes.

When regular supply becomes uncertain, buyers generally look for alternative sources. This happened across Asia and Europe during the quarter. Buyers competed for cargoes from other regions, increasing demand for available material and pushing replacement costs higher.

The situation also affected freight economics. Longer or less direct shipping routes increased logistics expenses, while uncertainty around vessel movement added another layer of cost to procurement.

However, the market began changing toward the end of the quarter. Middle Eastern supply gradually recovered as shipping conditions improved. At the same time, geopolitical risk premiums started to decline. Buyers who had previously made emergency purchases became less aggressive.

Weaker petrochemical margins also reduced buying interest. Rising inventories further reduced the need for immediate procurement. As a result, June recorded significant monthly declines across almost all monitored markets.

UAE Naphtha Price Trend

The UAE recorded a strong increase in its Naphtha Price Trend during Q2 2026. Light Paraffinic Naphtha prices on an FOB Jebel Ali basis increased by approximately 28% during the quarter.

The increase was closely connected to Middle Eastern supply disruptions and elevated geopolitical risk. Shipping restrictions through the Strait of Hormuz initially reduced Gulf availability and encouraged Asian buyers to search for alternative cargoes.

This increased competition for available supplies and supported prices in the UAE. However, conditions changed as shipping gradually normalized and regional availability improved.

In June 2026, Naphtha Prices in the UAE declined by approximately 28.75%. The sharp monthly correction reflected improved Gulf export availability, lower geopolitical risk, and reduced feedstock costs.

Although June was significantly weaker, the UAE still recorded a strong quarterly increase because prices remained elevated during the earlier part of Q2.

USA Naphtha Price Trend

The USA also recorded a strong quarterly increase. The Naphtha Price Trend for Light Paraffinic Naphtha FOB Houston increased by approximately 34% in Q2 2026.

Global supply disruptions increased competition for Atlantic Basin cargoes. Asian and European buyers searched for alternative supplies after Middle Eastern exports were disrupted, which increased interest in US-linked material.

The US market was comparatively less exposed to the direct disruption around the Strait of Hormuz. However, international competition still affected replacement costs and market pricing.

By June, the situation became less tight. Gulf supply expectations improved, international competition eased, and weaker petrochemical margins reduced buying interest.

As a result, Naphtha Prices in the USA declined by approximately 17.27% in June. Lower geopolitical risk, improved global availability, and lower feedstock costs contributed to the monthly correction.

Netherlands Naphtha Price Trend

The Netherlands recorded approximately a 33% increase in its Q2 2026 Naphtha Price Trend for Light Paraffinic Naphtha FOB Rotterdam.

European buyers faced tighter availability after Asian consumers began looking for alternative cargoes. With Middle Eastern supply disrupted, demand shifted toward Atlantic Basin and European material.

This increased competition for European cargoes and pushed replacement costs higher during the early part of the quarter.

The market later weakened as expectations for Gulf supply improved and European inventories began rebuilding. Petrochemical demand also remained subdued.

In June 2026, Naphtha Prices in the Netherlands declined by approximately 22.41%. The correction reflected improved availability, lower geopolitical risk premiums, and weaker downstream demand.

Saudi Arabia Naphtha Price Trend

Saudi Arabia recorded an approximately 28% quarterly increase in its Naphtha Price Trend for Light Paraffinic Naphtha FOB Jeddah.

The market was affected by uncertainty surrounding regional supply and shipping through the Strait of Hormuz. The disruption increased competition for available Gulf cargoes and encouraged Asian buyers to look for alternative supplies.

Higher logistics risks also increased replacement costs.

As shipping expectations improved, Middle Eastern availability gradually recovered. This reduced the need for emergency procurement.

In June 2026, Naphtha Prices in Saudi Arabia declined by approximately 28.91%. The sharp correction reflected restored supply confidence, lower logistics risks, and weaker Asian procurement.

Singapore Naphtha Price Trend

Singapore experienced an approximately 30% increase in its Q2 Naphtha Price Trend.

The Singapore market was strongly affected by tight Asian supply and increased competition for replacement cargoes. Middle Eastern export disruptions forced Asian buyers to search for supplies from Europe, North Africa, and other origins.

This increased procurement pressure across the region.

However, the situation eased toward June. Gulf supply began recovering, inventories were rebuilt, and buyers became more cautious. Weak petrochemical margins also reduced demand for additional cracker feedstock.

In June, Naphtha Prices in Singapore declined by approximately 30.15%. The large monthly correction reflected better regional availability, easing geopolitical concerns, and weaker downstream buying.

Japan Naphtha Price Trend

Japan recorded the strongest quarterly increase among the monitored light naphtha markets. The Naphtha Price Trend increased by approximately 59% in Q2 2026 for Light Paraffinic Naphtha CIF Tokyo.

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

This increased replacement costs and strengthened the market during the first part of Q2.

The situation changed in June as shipping conditions improved and alternative cargoes became more accessible. Weaker petrochemical margins also reduced buying interest.

Naphtha Prices in Japan declined by approximately 28.44% in June. Despite the sharp correction, Tokyo maintained the strongest quarterly appreciation because supply concerns and replacement costs had remained exceptionally high during the earlier months.

South Korea Naphtha Price Trend

South Korea recorded an approximately 41% increase in its Q2 Naphtha Price Trend.

The country has significant exposure to Middle Eastern naphtha supplies, making the Strait of Hormuz disruption an important factor for domestic feedstock availability.

South Korean buyers and petrochemical producers responded by prioritizing available domestic supply and looking for alternative cargoes. As shipping conditions improved, emergency procurement gradually declined.

In June 2026, Naphtha Prices in South Korea declined by approximately 28.57%.

The monthly correction was linked to improved import availability, reduced supply-security concerns, and weaker petrochemical demand. However, Busan prices remained substantially higher on a quarterly basis because the market had experienced severe supply shortages during the earlier part of Q2.

Mexico Naphtha Price Trend

Mexico recorded an approximately 32% quarterly increase in its Naphtha Price Trend for Light Paraffinic Naphtha CIF Manzanillo.

Mexico was comparatively less exposed to the direct Middle Eastern disruption because it had access to US-linked supplies. However, stronger international competition for Atlantic Basin cargoes still increased costs.

As Gulf supply expectations improved, international procurement pressure declined. Crude-linked feedstock costs also moved lower.

In June 2026, Naphtha Prices in Mexico declined by approximately 16.12%. The monthly correction reflected better international availability, lower replacement costs, and weaker downstream demand.

Canada Naphtha Price Trend

Canada's Q2 Naphtha Price Trend increased by approximately 28% for Light Paraffinic Naphtha CIF Montreal.

Canadian buyers benefited from US-linked availability, which reduced direct exposure to Middle Eastern supply disruptions. However, increased international demand for Atlantic Basin material still affected procurement costs.

As Middle Eastern exports recovered, competition for alternative cargoes eased and feedstock costs declined.

In June, Naphtha Prices in Canada declined by approximately 14.71%. The correction reflected improving global supply expectations, lower geopolitical risk, and weaker petrochemical procurement.

Brazil Naphtha Price Trend

Brazil recorded an approximately 32% increase in its Q2 Naphtha Price Trend for Light Paraffinic Naphtha CIF Santos.

The country's access to US-linked cargoes provided some protection from direct Middle Eastern supply disruption. However, increased competition for Atlantic Basin supplies still pushed international feedstock costs higher.

As Gulf exports recovered and geopolitical risks eased, international procurement pressure declined.

In June 2026, Naphtha Prices in Brazil declined by approximately 15.42%. The monthly correction reflected improved supply availability, lower feedstock costs, and weaker downstream demand.

Germany Naphtha Price Trend

Germany recorded approximately a 32% quarterly increase in its Naphtha Price Trend.

European cargo availability tightened during the early part of Q2 because Asian buyers redirected procurement toward alternative sources after Middle Eastern supply disruptions.

This increased competition for European and Mediterranean supplies and raised replacement costs.

Later, Gulf exports recovered and European inventories began rebuilding. Weaker petrochemical demand also reduced buying interest.

In June 2026, Naphtha Prices in Germany declined by approximately 21.30%. The correction reflected lower geopolitical risk premiums, better supply availability, and lower feedstock costs.

Belgium Naphtha Price Trend

Belgium's Light Paraffinic Naphtha FD Antwerp market recorded approximately a 30% increase during Q2 2026.

The market benefited from tighter European supply and stronger competition for alternative cargoes during the early Middle East disruption. Asian buyers increasingly looked toward Northwest Europe, which strengthened demand for Antwerp-linked supplies.

As regional inventories recovered and geopolitical risk declined, the market began to weaken.

In June 2026, Naphtha Prices in Belgium declined by approximately 21.66%. The monthly correction reflected better supply expectations, lower feedstock costs, and weaker downstream demand.

France Naphtha Price Trend

France recorded approximately a 33% increase in its Q2 Naphtha Price Trend for Light Paraffinic Naphtha FD Le Havre.

The market was supported by increased demand for European cargoes after Middle Eastern disruptions affected traditional supply routes. Asian buyers competed for European and Mediterranean material, tightening regional availability.

The market later moved toward normalization as geopolitical conditions improved and Gulf supply expectations strengthened.

In June 2026, Naphtha Prices in France declined by approximately 20.13%. Lower energy-linked costs, improving supply availability, and weaker petrochemical demand contributed to the monthly decline.

India Naphtha Price Trend

India recorded an approximately 43% increase in its Q2 Naphtha Price Trend for Light Paraffinic Naphtha CIF Nhava Sheva.

India was significantly exposed to the Middle Eastern supply disruption because of its reliance on Gulf-origin cargoes. When these supplies became difficult to secure, Indian buyers had to search for alternative sources while competing with other Asian consumers.

Higher freight and logistical risks further increased procurement pressure.

As shipping conditions improved, alternative supplies became easier to access and emergency buying declined.

In June 2026, Naphtha Prices in India declined by approximately 25.05%. The correction reflected improved Gulf availability, lower logistics risks, and weaker downstream demand. Despite the June decline, Nhava Sheva maintained a strong quarterly increase because the Indian import market had remained highly exposed to the supply shock during the first part of Q2.

Naphtha Price Chart and Market Movement

The Naphtha Price Chart for Q2 2026 shows two clearly different phases. April and May were characterized by supply concerns, higher replacement costs, and stronger competition for alternative cargoes.

June showed a broad reversal. Most monitored markets recorded significant monthly declines as Middle Eastern supply recovered, shipping conditions improved, and geopolitical risk premiums declined.

Japan recorded the largest quarterly increase at approximately 59%, followed by South Korea at 41%, India at 43%, and the USA at 34%. European markets such as the Netherlands and France recorded increases of approximately 33%.

The June corrections were also substantial. Singapore declined by approximately 30.15%, Saudi Arabia by 28.91%, Japan by 28.44%, and the UAE by 28.75%.

Naphtha Price Forecast

The Naphtha Price Forecast for the period following Q2 2026 will depend heavily on supply availability, shipping conditions, crude-linked feedstock costs, petrochemical margins, and downstream demand.

The Q2 market showed how quickly naphtha prices can change when supply routes are disrupted. If Middle Eastern exports continue to recover and shipping conditions remain stable, the emergency premium built into prices during April and May could continue to unwind.

Rising inventories and weaker cracker demand may also limit buying interest. On the other hand, any renewed disruption to major shipping routes could increase competition for alternative cargoes again.

The direction of crude-linked costs will remain another important factor. Lower feedstock costs can reduce naphtha replacement values, while higher energy and crude costs can provide renewed support.

Regional differences will also remain important. Import-dependent markets such as Japan, South Korea, and India may remain more sensitive to changes in Gulf availability, while markets with stronger access to North American or Atlantic Basin supply may have greater sourcing flexibility.

Naphtha Price Index

The Naphtha Price Index during Q2 2026 reflected the transition from severe supply disruption toward market normalization.

The early-quarter increase was driven mainly by restricted Gulf exports, higher freight costs, alternative cargo competition, and strong replacement demand. By June, the index reflected the opposite direction as supply conditions improved and buying interest weakened.

The overall quarterly gains remained significant because prices had moved sharply higher during the earlier months. However, the June corrections showed that the market had started moving away from the extreme tightness experienced earlier in the quarter.

Weaker petrochemical margins, subdued cracker demand, improving inventories, and lower feedstock costs are therefore important factors to watch when assessing the next phase of the Naphtha Price Trend.

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