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Naphtha Benchmark Prices Firm on Crude Support and Resilient Asian Cracker Demand

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Published: February 21, 2026

Feedstock Competitiveness

Despite rising crude costs, naphtha remains the preferred feedstock for crackers focused on propylene and aromatics production. Rising propane prices are narrowing the substitution window.

Red Sea Shipping Delays

Logistical delays for European naphtha moving to Asia continue to provide a floor for regional prices. Any further escalation in shipping risks will likely push premiums higher.