Naphtha Prices Surge on Mideast Conflict

Asia and Middle Eastern Naphtha Daily Market Analysis / Naphtha rallies on heightened US-Israel-Iran war / More petrochemical producers declare

Jun 03, 2026

The Asian naphtha market rallied on March 9 amid the US-Israel war against Iran over the weekend, which disrupted energy infrastructure in the region. Crude oil futures saw significant upside risks as Iran’s oil depots in Tehran and Alborz provinces were hit by missiles. While reports said the Tehran oil refinery may have been hit, a refinery official denied this to the state-run ILNA news agency. Iraq’s oil production from its southern fields has plunged to 1.3 million b/d, directed to local refineries and power stations, Kazem Karim, Basrah Oil Company’s deputy director for field and license affairs, told Iraqi state media March 8. Saudi Arabia’s 1 million b/d Shaybah oil field saw more rounds of drone strikes over March 7-8, but all were intercepted and destroyed with no reports...

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