US Crude Oil: Range-bound oscillation, sell on rallies, buy on dips

(1) Analysis Reason: Middle East tensions have intensified once again, and supply risks in the Strait of Hormuz are pushing up the risk premium for crude oil, with WTI reclaiming the $85 level. The EIA forecasts that global inventories are still in a declining phase, and the supply side remains strongly supportive. In the short term, oil prices are relatively strong, but the rising dollar and inflation expectations may limit the increase, with prices testing the upper edge of a triangle convergence; mainly awaiting a pressure test. (2) Key Focus: Geopolitical situation, inventory data, US Dollar Index (3) Resistance: 87.00, 88.00, 88.50 (4) Support: 86.00, 85.00, 84.60