Photo: Doug Mills-Pool/Getty Images

The first White House coronavirus policy response aimed specifically at the reeling U.S. oil sector may not be a sure thing to occur as President Trump envisions.

What's happening: Late Friday afternoon Trump said the U.S. would purchase enough crude oil to fill the Strategic Petroleum Reserve "right up to the top," which would ultimately be a $2.6 billion purchase if oil remained at Friday's prices.

  • That would involve a plan to purchase 78 million barrels, given that the reserve has a capacity of 713.5 million barrels and currently holds around 635 million.

Where it stands: The Energy Department said Friday it would "immediately initiate an expedited process" to begin purchasing oil.

But, but, but: The research firm ClearView Energy Partners notes that "funding remains unclear" and sees "political headwinds" in Congress to appropriating new money.

  • However, their weekend note added that the administration could gain congressional permission to reallocate existing funds for some of the purchases. S&P Global Platts has more on that here.

What they're saying: Oil analyst Bob McNally, president of Rapidan Energy Group, tells the Washington Post that buying oil at low prices for the stockpile is a good idea.

  • McNally, a former energy official in the President George W. Bush era, notes that "our economy remains vulnerable to supply disruptions anywhere in the world."

Go deeper: Trump to buy oil for nation’s strategic reserves

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2 hours ago - Health

Oklahoma Gov. Kevin Stitt tests positive for coronavirus

Oklahoma Gov. Kevin Stitt. Photo: Alex Wong/Getty Images)

Oklahoma Gov. Kevin Stitt (R) announced on Wednesday he has tested positive for the coronavirus and will self-isolate, Tulsa World reports.

Why it matters: The 47-year-old Stitt is believed to be the first governor in the U.S. to test positive. He attended President Trump's rally in Tulsa last month, which the county's health department director said likely contributed to a surge in cases in the region.

Updated 3 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 11 a.m. ET: 13,357,992 — Total deaths: 579,546 — Total recoveries — 7,441,446Map.
  2. U.S.: Total confirmed cases as of 11 a.m. ET: 3,432,307 — Total deaths: 136,493 — Total recoveries: 1,049,098 — Total tested: 41,764,557Map.
  3. Public health: Florida's outbreak is getting worse — Testing is again overwhelmed by massive U.S. caseload.
  4. Business: UnitedHealth posts most profitable quarter in its history — Walmart will require all customers to wear masks.
  5. Politics: White House says it didn't clear Navarro op-ed that attacked Fauci.

Walmart will require all customers to wear masks

Photo by Scott Olson/Getty Images

Walmart will require all customers to wear face masks beginning next week in all of its 5,000 company-owned stores, in addition to its Sam's Club locations, the company announced Wednesday.

Why it matters: Walmart is the largest retailer in the U.S. and the latest in a string of national chains — including Costco and Starbucks — to mandate masks for customers.