REFILE-US STOCKS-Wall St pares some early losses as oil prices rally
(Refiles to corrects to "its" from "their" in paragraph 1)
* Inflation to likely rebound - Fed's Fischer
* Oil prices jump more than 5 pct
* Energy index on track for best 4-day gain in 7 years
* Phillips 66 up after Buffett discloses stake
* Indexes down: Dow 0.28 pct, S&P 0.34 pct, Nasdaq 0.21 pct
By Tanya Agrawal
Aug 31 (Reuters) - Wall Street pared some of its early losses in afternoon trading on Monday as energy stocks gained after oil prices rallied sharply.
Crude prices jumped after data indicated surprise cuts to U.S. oil production and as OPEC said it was ready to talk to other producers about the recent drop in prices. Continuación...