Chemicals Updates

Asia and Middle Eastern Naphtha Daily Market Analysis / Spread between Russian and non-Russian naphtha heard narrowing / Japan’s AMEC seeks 25,000 mt of naphtha

Jul 17, 2026

The Asian naphtha market was expected to strengthen July 15 as the US and Iran continued to exchange military strikes following a resurgence of hostilities. Iran struck US military targets at Bahrain’s Sheikh Isa Air Base and Kuwait’s Ali Al-Salem Air Base and Mina Abdullah, the Islamic Revolutionary Guard Corps’ public relations office said in two statements published July 15 on its news website, Sepah News. This followed the US completing another round of strikes against Iran July 14, according to a US Central Command statement posted on the social platform X. Asian sources said the spread between Russian and non-Russian naphtha appeared to be narrowing, following strikes on Russian refineries in H1 July. Brokers pegged the balance-month July-August Mean of Japan swap time spread at $45/metric ton in midafternoon...

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