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

(1) Analysis: Trump stated that further military strikes against Iran are "extremely unlikely". Iraq and the US have reached an understanding to resume Hormuz oil exports via the Oman route, and geopolitical premiums continue to fade; however, the absence of a finalized agreement means supply uncertainty remains. Last week, oil prices plunged due to expectations of conflict easing and are now fluctuating around the $90 level in the short term. A relatively strong US dollar and Treasury yields limit the rebound potential, while OPEC policy and inventory data remain variables. (2) Key focus: Geopolitical situation, inventory data, US Dollar Index (3) Resistance: 91.00, 91.50, 92.00 (4) Support: 90.00, 89.00, 88.00