Daily Market Price Updates and Commentary 16th June 2026

With attention turning to the Oct’26 contract now that the Jul’26 options have expired, the market may have hoped for something different but there was a familiar feel to early trading. Buyers were few and far between and so a slide further into the consumer scales that lay below saw more recent lows traded, with the pressure maintained across the morning. There was a small blip higher around noon however more selling in conjunction with the start of the US morning nudged the price down to a low of 14.04. As so often seen the turnaround proved more rapid than the pressure and when position covering took place there was little resistance to be found and the market accelerated ahead to 14.35 before topping. Unlike recent days the completion of necessary cover from smaller traders did not leave prices tumbling again, and instead the final 3 hours played out calmly in the region of 14.30 to ensure a rare positive conclusion to the day. Settlement was made at 14.31, and while this still leaves the market near the bottom of its range it does provide the first sign for a couple of weeks that traders may be tiring of the downside. 

Aug’26 slipped back to the upper $430’s during early trading, however the pressure was not particularly sizable and with buyers continuing to line up beneath the market Aug’26 did not trade lower than $439.00. Trading remained slow through the entire morning, and while the price was back above $440 as early afternoon arrived there was no sign that it wanted to move very far either way. The situation changed towards the middle of the afternoon as higher No.11 values encouraged buyers to start bringing the price back upwards, and with little resistance to be found Aug’26 soon gained several dollars. The pace of progress slowed across the second half of the afternoon but still the market was trending upwards, remaining in the upper $440’s (though there was a spike to $450.80) before ending the day at $449.90. The gains did enable the white premiums to extend back out with Aug/Jul’26 ending the day at $145.20, though change nothing n the chart with the same broad range still holding relentlessly.