oil prices were lower on Monday as the Opec+ alliance prepares for a meeting later this week and markets await the outcome of a Federal Reserve policy meeting.

Brent, the benchmark for two-thirds of the world’s oil, was down 0.70 percent at $86.05 a barrel as of 12.49pm UAE time.

West Texas Intermediate, the gauge for US crude, fell 0.88 percent to $78.98 a barrel.

Brent was down about 1 percent at $86.66 on Friday, while WTI was down 1.64 percent at $79.68.

“Opec+ ministers will be…

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