More on the oil price spike – “decision falls far short of what oil producers … have been urging”

I posted on the spike in the oil price here, canvassing two possible catalysts: Oil traders … oil price jump

Here’s more detail which might be helpful … in brief it says the export approval is not such a big deal …:

US challenges oil export ban with approvals for two Texas companies

• The Obama administration has cleared the way for two energy companies to sell an ultra-light variety of crude overseas after minimally processing it, a decision that tests the limits of a long-standing ban on exporting U.S. crude
• The move came in private classification orders issued by the Commerce Department’s Bureau of Industry and Security
• The decision falls far short of what oil producers and some of their allies in Congress have been urging
• The decision does not change the decades-old regulations that effectively block most crude from crossing U.S. borders, but it is expected to embolden other oil companies to follow suit.

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I’m no expert on oil, so, as always, alternative thoughts always welcome