Oil Prices Start The Week Lower As Bearish Sentiment Builds

Crude oil prices fell earlier today, starting the week with a decline on expectations of another rate hike by the Fed that combined with weaker-than-expected economic data from China to erase previous gains. In morning trade in Asia Brent crude had fallen below $80, with West Texas Intermediate was down to a little over $76 per barrel. Both declines, however, were moderate, continuing a losing streak that began last week. The U.S. Federal Reserve is expected to announce a 25-basis-point rate hike later this week as it continues to try and tame…