The oil complex turned lower Wednesday after data showed an unexpected rise in US commercial crude stocks for last week. NYMEX October crude settled 46 cents lower at $94.42/barrel, while ICE November Brent closed 8 cents down at $98.97/b. Data from the US Energy Information Administration showed stocks rose 3.67 million barrels, to 362.27 million barrels, for the reporting week ended September 12. That was counter to analysts’ expectations of a 400,000-barrel draw. In refined products, NYMEX October RBOB settled 1.04 cents higher at $2.5692/gal, while NYMEX October ULSD closed up 1.12 cents at $2.7451/gal. “The EIA gave a big number on crude stock build which in and of itself is fairly bearish,” Tony Headrick, energy analyst at CHS Hedging, said. “We resisted moving sharply lower, due to a combination of support levels just under $92 and refiners operating at 93%, and these […]