Oil slips in Asian trade, Fed meeting in focus this week

Crude-oil futures trimmed early gains to move lower in Asian trade Monday as markets grappled with continued oversupply, weakening demand and intraday losses in Chinese equity markets.

Investors are bracing for more volatility and possibly lower oil prices in coming weeks. Goldman Sachs Group Inc. said last week that U.S. oil prices could fall to as low as $20 a barrel to clear out a global supply glut.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in October CLV5, -0.18%   traded at $44.56 a barrel, down $0.07 in the Globex electronic session. October Brent crude LCOV5, -0.81%  on London’s ICE Futures exchange fell $0.30 to $47.77 a barrel.

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