Peanut butter is not an oil, but it does contain oil. It
contains peanut oil, of course.
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commercially made peanut butter contains oil
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My guess is because the peanut is altered and the allergy is
less noticeable when it is in peanut butter or peanut oil. I do
however believe you are still having an allergic reaction to the
peanut butter or oil when you come into contact with it.