UPDATED--"Oil Crushed as IEA Releases 60M in Reserves" (USO)

Update: "Obama Taps Petroleum Reserve. Consider This Q.E. 3" and Analysts React.
Original post:
MarketBeat on the, umm, Oilbeat:

Nymex crude oil is tumbling by about 5% today to less than $91 a barrel in frenzied trading as the market wonders what in the heck the International Energy Agency is doing with a mysterious, emergency press conference scheduled for right about now in Paris....MORE

The post's author, Mark Gongloff, ran a WSJ property, the Energy Roundup blog.
At the same time he was Markets Editor for the Online WSJ.
He's pretty good on oil, credit markets, world peace and heavy metal.