West Texas Intermediate advanced for the first time in four days ahead of a Federal Reserve decision on bond purchases and U.S. government data forecast to show crude inventories fell to the lowest in a year.
Futures gained as much as 1.1 percent. Crude stockpiles dropped by 1.2 million barrels last week to 359 million, the least since August 2012, a Bloomberg News survey showed before a report today from the Energy Information Administration. The Federal Open Market Committee wraps up a two-day policy meeting at which it will probably decide to curb its $85 billion of monthly bond purchases, according to the median response of 64 economists in a Bloomberg News survey.
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