CSC Financial: Oil prices may remain range-bound.

CITIC Securities research report points out that the restart of US-Iran talks combined with the IEA's accelerated release of reserves has led WTI crude oil prices to fluctuate downward. The US and Iran, through mediators, have restarted consultations on a proposal to reopen the Strait of Hormuz. The IEA has released approximately 325 million barrels of oil, easing expectations of supply tightness. As of October 7, the WTI settlement price was reported at 88.28 USD/barrel, down 16.58% from its September 15 high. Geopolitical influences persist, and oil prices may remain range-bound.