Oil slumped on Tuesday amid projections of raised Russian supply and weaker than projected demand in sectors like jet fuel and spiked concerns that affected trading before Fed’s decision on interest rate stance.

Brent crude edged down by 15 cents to $86.74 per barrel while US WTI dropped 13 cents to $82.03 per barrel.

The two benchmarks hit four-month peaks in the earlier session, supported by slow crude exports from Saudi and Iraq and hints of robust demand and economic advance in China and US.

Oil prices were negatively impacted by supply worries triggered by raise exports and the attacks that took place on Ukrainian oil infrastructure.

Russia is planning to raise oil exports in March by roughly 200,000 bpd versus a monthly strategy of 2.15 million bpd.

Uncertainty surrounding the trajectory of U.S. interest rates ahead of the Federal Reserve meeting on March 20 exerted downward pressure on oil prices.