According to Jinshi, investors are waiting for key US inflation data and the results of the Federal Reserve's policy meeting to further clarify the path of interest rate cuts and how it will affect demand, which has led to a slight drop in oil prices. IG analysts said in a report that oil prices consolidated after rising 3% last week, with strong summer demand expected and the US Department of Energy likely to buy oil to increase war reserves. The international oil benchmark price rebounded above $80 a barrel in the last trading day as the market expected summer fuel demand and OPEC+'s production restrictions would put the market in a considerable deficit in the third quarter. News of new US sanctions on the Iran-backed Houthi rebels also supported oil prices, but analysts said that oil prices need to be supported by fundamental news to achieve a more sustained recovery.