What is the probability of Oil breaking all time highs? Or not even a chance?
Crude Oil’s All time high was 147.27 $ per barrel in 2008. We are slightly more than 50% away from these levels.
With Geopolitical tensions at its peak, We are barely testing the levels of $100 and finding it tough to cross that.
Also do note that , if the oil sustains above 85$ , US shale producers ramp up their production as it is profitable for them at these levels ,there’s also a US-Iran nuclear deal which if it happens, can cool down the oil prices.
So to answer your question, Currently the ATH levels are too far to worry about. Is there a possibility ? for sure, but it is less than 1% currently.
But , all these can change with a week of bomb strikes