Oil prices were down Monday as worries over the U.S. raising interest rates as early as next month rippled through an already jittery market. The October contract of global benchmark Brent was down 1.49% at $49.44 a barrel, while its U.S. counterpart, West Texas Intermediate, was down 1.45% at $46.94. Prices fell after Federal Reserve Chairwoman Janet Yellen signaled growing conviction that the central bank would raise short-term interest rates in the weeks or months ahead. A rise in U.S. interest rates usually doesn’t bode well for oil prices, which are priced in dollars. Higher interest rates could push the dollar higher, making oil products more expensive for oil traders who hold a different currency. The WSJ Dollar Index was largely steady after rising 0.8% over the weekend. Meanwhile, as September approaches there is continued speculation over whether major oil producers, including Russia and members of the Organization of […]