Polymarket is adding a market: "Will the price of oil surpass its all-time high by the end of March?"

According to PolyBeats monitoring, a new market has been added on the prediction platform Polymarket, asking whether the "Crude Oil price will surpass its all-time high (i.e., $147.27) by the end of March." Currently, the probability of this option is 11%.

The $147.27 all-time high level set by the market was reached nearly 20 years ago. In January 2007, the international crude oil price averaged around $56 per barrel. Subsequently, driven by surging demand in emerging markets, global supply constraints, and other resonating factors, the oil price skyrocketed. It peaked intraday at $147.27 per barrel on July 11, 2008, establishing a new nominal high.