NYMEX September crude Friday rebounded from a seven-month low to settle $1.77 higher at $97.35/barrel amid overextended selling and profit taking among this week’s shorts. ICE October Brent bounced back from a 13-month low, rising $1.46 to settle at $103.59/b. In products, NYMEX September RBOB settled 3.2 cents higher at $2.6986/gal, while September ULSD finished 2.85 cents higher at $2.8480/gal. “It’s pretty puzzling,” Tradition Energy analyst Gene McGillian said. “We’re seeing some profit taking from the shorts this week after getting a little overextended yesterday.” ICE Brent fell below $102/b Thursday, lows not seen since June 2013. NYMEX crude fell as well as $95.26/b a day ago, lowest since January. McGillian said market fears regarding weak demand and slow economic growth had spurred Thursday’s selloff, but that left crude poised for a turnaround. He pointed to increased tensions between Ukraine and Russia after reports that Russian troops had crossed […]