White House adviser John Podesta spoke in an interview with Reuters and said the Obama administration is studying how to properly manager the US strategic oil reserve.
Whenever oil traders hear ‘strategic oil reserve’ they get clammy and sell but with prices so low it’s not a hint at US selling.
Also on crude, Podesta said he sees no further pressure to ease US export rules and considers the issue resolved for now.
Update: The full story is now up on the web.
