CNBC | Oil nears 11-year low on big US supply build; Fed awaited CNBC Expectations of a U.S. interest rate hike from the Federal Reserve later in the day also weighed on sentiment in oil and other dollar-denominated commodities. Higher U.S. rates should support a strong dollar, making oil costlier for holders of the euro ... The Latest: Oil Prices Down Ahead of Fed Meeting Fed Rate Hike Bad Timing for Crude Oil |