US crude oil: Range-bound oscillation, sell on highs and buy on lows

(1) Analysis Reason: Expectations for improved shipping in the Strait of Hormuz have reduced the supply risk premium, pushing WTI down to around $80; however, global inventories remain tight, and EIA data indicate ongoing pressure on global inventory consumption. In the short term, a weakening US dollar limits the decline in oil prices. The technical structure remains bearish, with the $80 level acting as a battleground between bulls and bears, and the market is primarily waiting for a clear direction. (2) Key Focus: Geopolitical situation, inventory data, US Dollar Index, US PCE data, Jackson Hole meeting (3) Resistance: 81.00, 81.50, 82.00 (4) Support: 80.00, 79.50, 79.00