Oil prices traded mixed. The possible interest rate hike by the Fed, a stronger U.S. dollar and concerns over the global oil oversupply weighed on oil prices.

Market participants are also awaiting the release of the number of active U.S. rigs later in the day. The oil driller Baker Hughes reported on last Friday that the number of active U.S. rigs increased by 2 rigs to 574 last week. It was the first rise in 11 weeks.

WTI crude oil for December delivery dropped to $40.21 a barrel on the New York Mercantile Exchange.

Brent crude oil for December rose to $44.57 a barrel on ICE Futures Europe.