If you’re an oil trader you don’t need me to tell you the price is jumping sharply.
There was talk that the Israeli Air Force had bombed two sites in Gaza, which has indeed been confirmed. Whether this is the catalyst, though, I don’t know.
Added:
Also this: U.S. Ruling Loosens Four-Decade Ban On Oil Exports (Wall Street Journal gated, thanks and h/t to @fxmacro)
- Federal officials have told two energy companies that they can legally export a kind of ultra-light oil that has become plentiful as drillers tap shale formations across the U.S. With relatively minimal processing, oil shipments could begin as early as August, according to one industry executive involved in the matter.
- Using a process known as a private ruling, the U.S. Commerce Dept.’s Bureau of Industry and Security is allowing Pioneer Natural Resources Co. of Irving, Texas, and Enterprise Products Partners LP of Houston to export ultra-light oil known as condensate
(And thanks also to Aamar in the comments for the link to the article also)
