It's all very well releasing a little bit of extra oil, but the other problem is logistics with refining. Refining capacity is under serious pressure in the South of the U.S., and extra supply isn't going to alleviate the refinery shortage.
The market got ambitious in what they were expecting from the Fed. The fact that the statement mentioned energy costs having some impact on consumer spending led some to be a bit cautious on the future growth outlook.
I think probably yesterday's move was a little bit overdone but obviously we've broken through some reasonably sizeable technical levels and that does beg the question as to whether there is a bit further to run.