Recent U.S.-Iran tensions and the partial closure of the Strait of Hormuz have kept a geopolitical risk premium in crude markets, with WTI trading near $81–87 per barrel and Brent near $93–94 as of late August 2026 after earlier spikes above $110. Supply disruptions have been partially offset by strategic reserve releases, pipeline shifts, and non-OPEC output, while global demand has softened amid elevated prices and slower industrial activity. Futures curves remain in backwardation, signaling near-term tightness, but the gap to the $147.27 WTI all-time high remains wide. Trader consensus on related Polymarket contracts prices only a low-single-digit implied probability of a new record by September and roughly 12–14% by year-end, reflecting the scale of further escalation or demand surge required. Key near-term catalysts include any escalation in Hormuz transit rules, OPEC+ production decisions, and upcoming EIA inventory data.
Experimental AI-generated summary referencing Polymarket data. This is not trading advice and plays no role in how this market resolves. · UpdatedCrude Oil all time high by...?
$2,706,453 Vol.
September 30
3%
December 31
13%
$2,706,453 Vol.
September 30
3%
December 31
13%
For CME Crude Oil (CL) futures contracts, the active month is the nearest of the contract months listed. The active month becomes a non-active month effective two business days prior to the spot month expiration. For example, if the spot month expires on a Friday the next listed contract will be considered the Active Month on the Wednesday prior to the spot month expiration.
This market will resolve as soon as a high price greater than the listed value is published, or once finalized data for the final trading day of the specified time period is published and a high price greater than $147.27 has not been achieved.
The resolution source for this market is the CME Group website (https://www.cmegroup.com/markets/energy/crude-oil/light-sweet-crude.quotes.html) — specifically, the daily "High" prices for the Active Month of Crude Oil (CL) futures.
Market Opened: Apr 30, 2026, 2:38 PM ET
Resolver
0x65070BE91...For CME Crude Oil (CL) futures contracts, the active month is the nearest of the contract months listed. The active month becomes a non-active month effective two business days prior to the spot month expiration. For example, if the spot month expires on a Friday the next listed contract will be considered the Active Month on the Wednesday prior to the spot month expiration.
This market will resolve as soon as a high price greater than the listed value is published, or once finalized data for the final trading day of the specified time period is published and a high price greater than $147.27 has not been achieved.
The resolution source for this market is the CME Group website (https://www.cmegroup.com/markets/energy/crude-oil/light-sweet-crude.quotes.html) — specifically, the daily "High" prices for the Active Month of Crude Oil (CL) futures.
Resolver
0x65070BE91...Recent U.S.-Iran tensions and the partial closure of the Strait of Hormuz have kept a geopolitical risk premium in crude markets, with WTI trading near $81–87 per barrel and Brent near $93–94 as of late August 2026 after earlier spikes above $110. Supply disruptions have been partially offset by strategic reserve releases, pipeline shifts, and non-OPEC output, while global demand has softened amid elevated prices and slower industrial activity. Futures curves remain in backwardation, signaling near-term tightness, but the gap to the $147.27 WTI all-time high remains wide. Trader consensus on related Polymarket contracts prices only a low-single-digit implied probability of a new record by September and roughly 12–14% by year-end, reflecting the scale of further escalation or demand surge required. Key near-term catalysts include any escalation in Hormuz transit rules, OPEC+ production decisions, and upcoming EIA inventory data.
Experimental AI-generated summary referencing Polymarket data. This is not trading advice and plays no role in how this market resolves. · Updated


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