West Texas Intermediate rose after industry data showed U.S. crude inventories shrank for a third week and before the Federal Reserve decides whether to pare stimulus in the world’s biggest oil consumer. Futures climbed as much as 0.4 percent in New York. Crude stockpiles fell by 2.5 million barrels last week, the American Petroleum Institute said yesterday. An Energy Information Administration report today is forecast to show supplies dropped by 3 million, according to a Bloomberg News survey. The Fed will disclose its plans today for its $85 billion monthly bond buying program after a two-day meeting in Washington. “Everybody is watching the Fed and that’s the main driver at the moment,” Hans van Cleef, an energy economist at ABN Amro Bank NV in Amsterdam, said by telephone. “The market is well-balanced at the moment and I don’t see that changing at all in 2014. Demand will pick up […]