Oil fluctuated as traders assessed a mass of conflicting signals, from speculation that the Federal Reserve will be forced to tighten policy much more aggressively as inflation flares to shifting outlooks for key US stockpiles. West Texas Intermediate traded above $87 a barrel after swinging between gains and losses following a similarly volatile session on Tuesday, when prices were buffeted by data showing elevated US inflation, as well as a possible Biden administration plan to refill strategic reserves. In addition, an industry survey pointed to a hefty expansion of separate commercial stockpiles. Wayne Gordon, executive director for commodities and FX at UBS Global Wealth Management, and Bloomberg’s Simon Kennedy discuss inflation, key risks for the Fed, and currency trends. Oil hit the lowest since January earlier this month as traders attempted to price in a possible global slowdown, tighter monetary policy, and lower energy demand. The hotter-than-expected US inflation […]