Daily Market Price Updates and Commentary 8th June 2026

The market jumped initially and Jul’26 reached 14.32 in the opening minutes, potentially om some enthusiasm driven by the higher energy values following weekend developments. The higher levels maintained for a short period however there was no continuation buying arriving, and so some quick liquidation followed which sent prices back down towards overnight levels. The market levelled out and through the remainder of the morning the market worked its way up to new highs at 14.36 with Jul/Oct’26 buying up to -0.42 points providing the main impetus. Through noon there was a quick collapse back to 14.20 on long liquidation which curtailed enthusiasm from small traders, and what followed was a slow period of sideways trading as the spread once more dominated activity. Increased rolling of longs by the index sector through the afternoon brought new pressure to the market and sent prices back to the lows, wiping out all the net gain and rendering the session meaningless. By the close Jul’26 was trading marginally lower ad recorded a settlement at 14.12, ensuring that it remained firmly within recent market parameters. Jul/Oct’26 saw a mighty 130,000 lot volume change hands once TAS volumes were factored in, with more of the same anticipated tomorrow.    

Significantly higher opening prints quickly faded and once the picture calmed, we saw Aug’26 settle down to hold the lower / mid $440’s through the rest of the morning. This malaise saw a softening of the white premiums with the flat values allowing Aug/Jul’26 to fall back to the $130.00 area, as interest from No.11 outstripped our own activity. There was no significant change to the pattern into the afternoon though prices were moving to erase the morning losses, and a small push up to $449.20 could not disguise what was a very slow session. The foray into higher ground was not maintained and the later stages played out “in the red” with a late round of pressure extending the loss and establishing a settlement value at $445.10. Spreads were marginally softer in keeping with the outright trend and Aug/Oct’26 ended the day at $4.90, while the white premiums did recover a sizable amount of the earlier losses on No.11 movements with closing values showing at $133.80 for Aug/Jul’26 and $118.10 for Oct/Oct’26.