West Texas Intermediate oil traded near the highest price in a week after crude stockpiles declined in the U.S. and the Federal Reserve said it will reduce stimulus as the economic outlook improves. Futures were little changed in New York after rising 0.6 percent yesterday. U.S. crude inventories shrank by 2.94 million barrels in the seven days ended Dec. 13, falling for a third week, according to data from the Energy Information Administration. The Fed is trimming its monthly bond purchases to $75 billion from $85 billion, starting in January, amid greater job-market prospects, Chairman Ben S. Bernanke said. “The Fed has given an endorsement to the growth that’s coming through with this decision,” said Michael McCarthy, a chief strategist at CMC Markets in Sydney who predicts investors may sell WTI contracts between $98 and $98.50 a barrel. “From a technical point of view, West Texas is bumping up […]