• Oil dipped as signs of stubborn US inflation whipsawed wider markets and OPEC said its latest supply cuts stalled.
• West Texas Intermediate settled below $78, after fluctuating between gains and losses, as stocks rebounded and shrugged off a higher-than-expected inflation print. Brent futures retreated under $82 a barrel. In addition to the US economic data, OPEC’s monthly report said Iraq produced more crude than its quota for a second month.