Crude-oil futures traded in a narrow range in Asian hours Wednesday as markets wait for the outcome of the U.S. Federal Reserve meeting and weekly oil-inventory data. On the New York Mercantile Exchange, light, sweet crude futures for delivery in March traded at $97.29 a barrel at 0608 GMT, down $0.12 in the Globex electronic session. March Brent crude on London’s ICE Futures exchange rose $0.07 to $107.48 a barrel. U.S. crude-oil stockpiles for the week ended Jan. 24 rose by roughly 4.7 million barrels last week, data from the American Petroleum Institute, a trade group, showed late Tuesday. The API data also showed that distillate or diesel inventories declined by 1.8 million barrels, indicating strong demand levels due to the ongoing winter storm. Meanwhile, the closely-watched survey from the Energy Information Administration is scheduled to be released at 10:30 a.m. EST Wednesday. Estimates from 11 analysts surveyed showed […]