Live Updates > Live Update Details
2026-11-02 10:04:26
【US Crude Oil: Oscillating Upward, Buy on Dips】 (1) Reasons for Analysis: OPEC+ maintained its December production target, eliminating the risk of short-term production increases; however, the progress of US-Iran diplomatic contacts and Iran's "two-day plan" weakened the geopolitical premium, and oil prices fell from their highs. WTI traded in the $101-$104 range, and the RSI fell back to around 58, with momentum slowing but not weakening. Shipping risks in the Strait of Hormuz remain, and freight and insurance costs in the physical market are high, with the support below not broken. The short-term trend remains range-bound. (2) Key Focus: Geopolitical situation, inventory data, US dollar index (3) Resistance: 102.00, 103.00, 104.50 (4) Support: 101.00, 100.00, 99.00
