Oil prices rebounded on Wednesday after falling by as much as 3 percent in the previous session, as data from an industry group showed a smaller-than-expected build in U.S. crude stockpiles. The American Petroleum Institute (API) reported a crude build of 1.4 million barrels for the week ended Sept. 9, smaller than the 3.8 million barrel rise expected by analysts. The U.S. government will issue official inventory data later on Wednesday. Brent crude futures were trading at $47.39 per barrel at 0704 GMT, up 29 cents, or 0.6 percent, from the last settlement. U.S. West Texas Intermediate futures were up 38 cents, or 0.9 percent, at $45.28 a barrel. “Long suffering oil bulls will now turn nervously to the U.S. EIA’s commercial crude inventory numbers to be released this evening in New York,” said OANDA’s senior market analyst Jeffrey Halley. “It was an unexpected undershoot in these numbers last […]