Oil traded near $72 a barrel as investors weighed signs of a tightening global crude market against the Federal Reserve’s decision to start moving toward an end of its ultra-easy monetary policy. West Texas Intermediate was 0.2% lower, and Brent also fell. On Wednesday, Fed Chairman Jerome Powell said officials would begin talks on tapering massive asset purchases, while penciling in two rate hikes by the end of 2023. That aided the dollar, hurting the appeal of commodities priced in the currency, while hitting sentiment in wider markets. Still, the oil market continues to display signs of strength as the pandemic ebbs. Russia’s Sokol crude traded at its strongest level since February 2020, while key swaps tied to the North Sea market that prices much of the world’s crude have rallied in recent days. A U.S. government report Wednesday offered the market its latest bullish fillip, with domestic crude […]