Oil Wavers With Inflation Concerns Clouding Demand Outlook Bloomberg 1 hr ago Alex Longley, Jack Wittels and Andres Guerra Luz (Bloomberg) -- Oil fluctuated between gains and losses as a strengthening U.S. dollar offset signs of a demand rebound in India. West Texas Intermediate futures were little changed, with prices remaining within the $5 range they’ve been holding since around mid-March. The dollar strengthened on Friday, with a higher-than-expected rise in U.S. March producer prices stoking further concern over inflation. The Bloomberg Dollar Spot Index rose as much as 0.4%, reducing the appeal of commodities priced in the currency. Still, prices found some support after India reported the strongest demand for oil products since March even as the country saw Covid-19 cases soar.