U.S. oil price slides back below $70 a barrel ahead of this week's Fed decision

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U.S. oil price slides back below $70 a barrel ahead of this week's Fed decision
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Oil futures fall Monday after a second straight losing week for crude.

Oil futures fell Monday, losing ground ahead of a two-day Federal Reserve policy meeting after logging a second straight losing week.

Attention... Oil futures fell Monday, losing ground ahead of a two-day Federal Reserve policy meeting after logging a second straight losing week. Attention this week centers on the Federal Reserve, which is seen as likely to hold interest rates unchanged after a breakneck series of hikes that have taken the fed-funds rate from near zero in March of last year to their current range of 5% to 5.25%. However, policy makers were also expected to signal that further hikes were likely in the offing to continue bringing down inflation.

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