Oil prices were lower today on a build in gasoline stocks and weak manufacturing data globally. Gasoline inventories climbed by 1.5MM/bbls compared with estimates of an 888K/bbl drop. Crude inventories fell by 6.1MM/bbls, higher than an expected 2.8MM/bbl drop. This data is a bit of a mixed bag especially as refiners continue to run at a high rate. US business activity approached the stagnation point in August with growth at its weakest since February. On the monetary side, talk has shifted to keeping interest rates around where they are now – but for longer than perhaps previously estimated – rather than raising them further. WTI traded down $.75 or -.9% to close at $78.89. Brent traded down $.82 or -.98% to close at $83.21