Daily Market Price Updates and Commentary 14th July 2026

The market was little changed on the opening and remained this way through the early part of the session on limited interest. Oct’26 did edge its way up to 14.86 later in the morning but was unconvincing in so doing, and the afternoon began with a fall to 14.67 as day traders headed to the exit door. There was barely any interest from the trade, and with both consumers and producers holding to either side of the market and awaiting better opportunity it was left to the smaller traders to continue generating any activity within the established range. All remained calm until the final two hours when a more concerted spec push arrived to send Oct’26 ahead to 15.00 at a pace, though the move ended in all too familiar style with a return to the 14.80’s as when profit taking occurred. In the end of the session market saw some recovery and settled at 14.88, 13 points up from previous settlement. Volume traded was 58k lots.

Once some opening volatility had calmed the market set above holding quietly either side of $460.00, though interest was lower than in recent days. The picture enlivened (at the top of the board at least) with a late morning spike to $466.30, however the move was led by smaller traders, and the lack of continuation interest soon saw the price fall back towards $460.00. This did briefly enliven the white premium value and valued Oct/Oct’26 at $138.50 on the spike, though the variation of value for this recently meant that very few orders got filled as we repeat the recent range. Into the afternoon there was a steady climb back into the $460’s, though despite the best efforts of traders we fell short of the morning highs and stalled. Aug/Oct’26 meanwhile returned to some calm after the movement of the last two sessions and held the $4/$5 area for most of the day, on a still steady volume despite being just two days short of expiry. Closer to settlement market saw some liquidation touching 462.80 and settling at 463.4.