West Texas Intermediate rose for a second day amid speculation U.S. fuel supplies declined and after the Federal Reserve signaled it will maintain steps to sustain the economic recovery. Futures climbed as much as 0.4 percent in New York. A “preponderance of data” would be needed before the central bank started removing stimulus, Fed Chairman Ben S. Bernanke said yesterday. Gasoline and distillate inventories probably shrank last week, while crude stockpiles expanded, according to a Bloomberg News survey before data from the Energy Information Administration today. World powers and Iran are resuming talks in Geneva over the Persian Gulf nation’s nuclear program. “It’s not surprising, in the absence of any other factors, that there is a little bit of positive sentiment in the market on a risk-reward basis, particularly for short-term traders,” said Michael McCarthy, a chief strategist at CMC Markets in Sydney. “But all of this could be […]