Crude oil remained trading weak amid continued concerns over a global recession and expectations that a rise in US interest rates will dampen demand.
At the opening of the European session, Brent crude oil futures traded down at $102 a barrel while the US WTI trade was down at around $93 a barrel.
Crude oil trading has been volatile in recent weeks as investors try to be wary of further interest rate hikes that could limit economic activity and reduce demand for the fuel.
Meanwhile, investors are now looking forward to the US economic growth data that will be released on Thursday, in addition to the results of the FOMC policy meeting the market is also looking forward to.
On the other hand, the European Union (EU) last week allowed Russian-owned companies to send oil to third countries under an adjustment to sanctions agreed by member states to limit risks to global energy security.
In the latest move last Friday, payments related to the purchase of Russian crude using seaborne shipments by EU companies will also not be banned.
