Rogelio V. Solis/AP
- US oil prices slid below $70 a barrel on Wednesday ahead of the Fed's rate hike decision.
- West Texas Intermediate crude traded lower 3% to $69 a barrel.
- That comes amid growing fears of a recession in the US, as high rates threaten to overtighten the economy.
US oil prices slid below $70 a barrel on Wednesday, thanks to mounting recession fears in the US while the Fed readies its last possible rate hike.
West Texas Intermediate crude fell 3% on Wednesday morning to trade at $69.57 a barrel. Meanwhile, Brent crude, the international benchmark, slid 2.75% to trade at $73.24 a barrel.