Crude oil oscillated between early gains and losses this morning but remained below $71/barrel as investors are eager to see what the Fed has to say. There are also OPEC predictions of a decline in daily demand, which could keep prices in check. The U.S. Oil Fund (USO) dipped 2.5% in intraday trading.
Overall, all three major U.S. indexes were down with the the Nasdaq and S&P 500 giving back 1.3% and the Dow Jones Industrial Average dropping 1%.
For more stories on crude oil, visit our oil category.
Kevin Grewal contributed to this article.