The market would love something sooner
Mnuchin said the US will purchase 77 million barrels to re-fill the strategic petroleum reserve.
Buying a bit later will still support the curve. One of the problems is that ultra-light oil doesn't store well so it's not quite a bailout for shale. The Energy Dept says it will take up to 11.3 million barrels of sweet oil from domestic producers along with 18.7 million barrels of sour oil.
