Oil prices retreat on dissipation of conflict in the Middle East Investors focus on U.S. inflation data

Sina Financial News Oil prices briefly falls below $81 per barrel as some of the premiums from the Middle East conflict continue to fade from the market. Amrita Sen, co-founder and head of research at Energy Aspects, said: "The market has been anticipating a potential upgrade, but we haven’t seen it yet. Previously, the so-called “geopolitical escalation” was fairly calibrated and measured for both sides. That’s why the price falls. Even after the recent falls, oil prices have pumped about 12% this year due to geopolitical tensions and OPEC+ production cuts. Investors will focus on a slew of U.S. economic data released this week, including the Federal Reserve’s preferred inflation gauge, which will provide more long clues on where the monetary policy is headed.