September crude oil began the overnight trading session on weak note, but seemed to rebound back toward positive territory during the early morning hours. The outside market tone this morning presents a stronger US Dollar and a growing level of anticipation regarding the debt ceiling debate. It also appears that the crude oil market has begun to price in the potential for slower economic growth in the US, especially after a much weaker than expected Durable Good orders report yesterday. EIA crude stocks rose by 2.296 million barrels, which was quite different than expectations for an actual draw. EIA crude stocks are 6.739 million barrels below year ago levels, but stand 17.604 million barrels above the five year average. Part of the surprise build came from the initial release of SPR supplies, as well as a 5.3% jump in imports to 9.84 million barrels per day. The refinery operating rate was 88.3%, down 2.0% from last week and compares to 90.6% last year. Some traders indicated that September crude oil was down more than 4.0% from Tuesday's high to the overnight low, and that may have created a short term oversold condition.