Japan aims to build naphtha reserves after Iran war shortages

CommoditiesCost, practicality among challenges in limited options available to policymakersPetroleum containers in Chiba prefecture, not far from Tokyo. Japan may ask oil companies to store crude oil that could be processed into naphtha. (Photo by Kai Fujii)KENTA SHIMAI and MEMI HIUCHIJuly 24, 2026 00:11 JSTTOKYO -- Japan is moving to establish naphtha reserves after supplies were disrupted by the Iran war and the de facto shutdown of the Strait of Hormuz, but economic and technical challenges limit the options available.