The US released CPI data, which rose 2.5% year-on-year, in line with expectations. At present, the biggest consensus on the Fed's rate cut forecast on September 18 is a 25 basis point cut. A few days ago, the betting website had a 24% probability of betting 50 basis points, but yesterday it was only 9%, leaving a 90% probability of 25 basis points.

Biden and Harris have made some compromises on energy issues. Trump actively supports electric vehicles, and Harris has a major change in his attitude towards the traditional oil industry. Harris has also begun to support the development of shale oil. The consensus of both parties is to lower US oil prices. No matter who comes to power, it is not good news for oil prices.