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

(1) Analysis: Trump signed an executive order exempting some Russian energy exports from sanctions and tariffs, which is expected to boost Russian diesel exports and triggered a short-term pullback in oil prices. However, geopolitical risks such as tanker attacks in the Strait of Hormuz continue to escalate, and concerns about supply disruptions remain. Coupled with U.S. crude inventories falling to their lowest level since February, both supply and demand factors are intertwined, and oil prices are likely to fluctuate widely at high levels in the short term. (2) Key focus: geopolitical situation, inventory data, U.S. dollar index (3) Resistance: 98.60, 99.00, 100.00 (4) Support: 97.00, 96.00, 95.00