A few days ago, the U.S. inflation issued a continuous warning, and OPEC said the latest supply cuts are blocked, a variety of adverse factors combined to cause oil prices to fall.。

WTI closed below $78 a barrel, with price movements rising and falling after the stock market rally did not react to higher-than-expected inflation figures, while Brent crude futures fell below $82 a barrel.。In addition to U.S. economic data, OPEC's monthly report noted that Iraq's crude oil production exceeded its quota, the second consecutive month of such a situation.。

As policymakers begin to gather on March 19, the Fed is widely expected to hold rates steady for the fifth time in a row.。HSBC commodity strategist Ole Hansen said slightly higher than expected consumer price index (CPI) data is unlikely to disrupt the market, overall, the report is unlikely to affect market sentiment。

Oil prices have risen this year, but prices have been pulled and pulled by long and short dynamics。Despite OPEC supply cuts being affected by higher production outside the group, concerns about Chinese demand remain。