West Texas Intermediate crude headed for a weekly drop amid speculation that the Federal Reserve will slow the pace of economic stimulus in the U.S., the world’s biggest oil consumer. Futures swung between gains and losses in New York and are set for a 0.3 percent decline this week. U.S. retail sales increased more than estimated in November, government data showed yesterday, adding to expectations that the Fed will taper bond buying as soon as next week. Oil may fall in the coming days as the nation’s fuel inventories expand amid reduced demand, according to a Bloomberg News survey. “Tapering of stimulus is seen as a hawkish maneuver,” said Jonathan Barratt , the chief executive officer of Barratt’s Bulletin in Sydney, said by phone today. “As markets look for the terminal point, tapering may damage the outlook for demand. Bulls and bears are at evens based on existing fundamentals.” […]