The Biden Administration is in focus as traders weigh odds of a response to rising prices. Oil rose in choppy trading as investors weighed the odds that the White House will intervene to cool rising energy prices. Futures in New York climbed 0.3% after swinging between gains and losses on Thursday. U.S. President Joe Biden is facing growing pressure, including from his own party, to address rising prices as gains in consumer costs hit the fastest pace in decades. His options include tapping the Strategic Petroleum Reserve or even banning oil exports. “Where we are at this point is prices have risen because demand is rising and so you need a more permanent supply response,” said Rob Haworth, senior investment strategist at U.S. Bank Wealth Management. Meanwhile, inventories at Cushing, Oklahoma, the delivery point for benchmark U.S. crude futures, fell by about 36,000 barrels Nov. 5-9, according to traders […]