Crude oil futures settled higher on Monday, recovering well after sharp early losses, as traders looked ahead to the monetary policy decision of the Federal Reserve, and the meeting of the Organization of the Petroleum Exporting Countries and its allies.
The Federal Reserve is set to announce its policy decision on Wednesday. The central bank is widely expected to hike interest rate by 50 basis points. The bank's views on the economy and the outlook for future rate hikes are in focus.
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