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

智通财经2026/09/29 02:36

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(1) Analysis: Negotiations between the United States and Iran still lack substantive breakthroughs. Supply risks in the Strait of Hormuz are supporting oil prices, with WTI rebounding near $93.60. However, increased exports from the Middle East and the restoration of alternative Saudi pipelines are limiting the upside, so short-term prices are expected to fluctuate at high levels. (2) Key focus: Geopolitical situation, inventory data, US Dollar Index. (3) Resistance: 94.00, 94.50, 95.00. (4) Support: 93.00, 92.00, 90.00.

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John Williams, President of the New York Federal Reserve, stated that if the economy performs broadly in line with expectations, it may be appropriate to raise interest rates once more later this year, but the September rate hike has allowed for more observation time, and “there is no need to act in haste.” Following Williams' remarks, the market's expectation for a Federal Reserve rate hike in October fell from around 70% to about 50%.

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