US crude oil: range-bound oscillation, sell on rallies, buy on dips

(1) Analysis: Ongoing escalation of Middle East supply risks and disruptions to tankers and energy facilities have pushed WTI above $94. U.S. commercial crude inventories previously decreased by about 4.5 million barrels, and the Strategic Petroleum Reserve fell to around 285 million barrels, indicating a weak supply buffer. Rising oil prices are also driving up inflation expectations. Prices are expected to remain firm in the short term, but profit-taking pressure may increase in the $95–100 range; caution is advised regarding a possible pullback after a surge. (2) Key areas to watch: geopolitical situation, inventory data, U.S. Dollar Index, U.S. CPI. (3) Resistance: 95.00, 96.00, 96.60. (4) Support: 94.00, 93.00, 92.00.