Systems and methods are provided for conversion of oxygenate-containing feeds to a hydrocarbon effluent that includes a naphtha boiling range portion with an increased research octane number and/or increased octane rating. The conditions for converting the oxygenate-containing feed can correspond to conversion conditions for fluidized bed operation and/or moving bed operation, with a low acidity catalyst that also includes phosphorus to improve the hydrogen transfer rate relative to the expected hydrogen transfer rate for a low acidity catalyst. In addition to providing a naphtha fraction with an improved research octane number and/or octane rating, the amount of durene in the naphtha fraction can be reduced or minimized.