US Crude: Range-Bound Trading, Buy on Dips, Sell on Rallies

【US Crude: Range-Bound Trading, Buy on Dips, Sell on Rallies】

(1) Analysis rationale: WTI has retreated to around $90, with US-Iran contacts and expectations of Saudi East-West pipeline restoration reducing supply premiums, while an unexpected 1.786 million barrel increase in API crude inventories also pressures prices. However, Middle East supply risks persist, and WTI holds near the 100-day moving average, so short-term trading remains range-bound.

(2) Key focus: Geopolitical situation, inventory data, US dollar index

(3) Resistance: 90.60, 91.00, 92.00

(4) Support: 89.00, 88.00, 87.00