Grief

Speaking to a group of international bankers Tuesday in Washington, DC, Jill Sommers of the Commodity Futures Trading Commission (CFTC) expressed her “persistent grief” at the process the agency is using to finalize reforms under the Dodd-Frank Wall Street Reform Act.

Sources cited increasing heat levels, particularly in the Midwest and Northeast, as the primary reason for fairly sizeable price rallies Tuesday at a majority of points. Only California, which was under a double-OFO whammy, saw moderate softening, although its depressant effect on western markets in general resulted in flat quotes for San Juan Basin and a few Rockies points.