By Nick Godt
NEW YORK (MarketWatch) -- Crude oil futures rose on Wednesday, as traders awaited data on weekly petroleum inventories and the Federal Reserve's statement on monetary policy later in the session. Crude oil for March delivery (CLH11 86.49, +0.30, +0.35%) rose 35 cents to $86.54 a barrel. After the close Tuesday, the American Petroleum Institute estimated crude inventories rose 2.1 million barrels for the week ended Jan. 21, much more than analyst forecasts for a rise of around 400,00 barrels.
