NewsSignals AI analysis·Reuters·Nov 6, 2026

Naphtha prices rebound from previous loss in steep backwardation

Grade Bbullish AI signal$BRENT

Asian naphtha prices rebounded 2.9% to $963.50 per metric ton, ending a five-session losing streak as crude oil gains and Middle East supply risks supported prices. First-half December naphtha traded in steep backwardation of $47 per ton, while Singapore light distillate inventories declined and refining margins eased to $211.18 per ton. Persistent Middle East supply risks could continue supporting naphtha prices, although expectations of geopolitical de-escalation and weaker crude oil could limit further gains.

Bullish strength: 65/100

Naphtha prices gained $27.50 per metric ton to $963.50.
The rebound ended a five-session losing streak.
Steep backwardation of $47 per ton indicates near-term supply tightness.
Singapore light distillate stockpiles declined.
Persistent Middle East supply risks continue supporting prices.

Bearish strength: 35/100

Naphtha refining margins eased to $211.18 per ton.
Crude oil faces pressure from expectations of Middle East de-escalation.
Saudi Aramco cut its December Arab Light price for Asian customers by $2 per barrel.

This is automated NewsSignals analysis of third-party reporting, not independent original reporting or investment advice. AI scores are not price predictions.

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