Geopolitical tensions in the Middle East, including the February 2026 military actions and subsequent de facto closure of the Strait of Hormuz, have sharply tightened global crude supplies and pushed benchmark prices to multi-year highs above $120 per barrel. Production shut-ins by major exporters such as Saudi Arabia, Iraq, and the UAE, combined with rapidly declining inventories, have amplified upward pressure despite a reported ceasefire. Traders are monitoring potential resumption of Hormuz flows, U.S. export increases, and any escalation risks that could sustain or reverse the rally. Seasonal summer demand and OPEC+ decisions remain key variables that could determine whether prices test or surpass prior peaks before year-end.
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...?
$243,012 Vol.
May 31
3%
June 30
14%
September 30
34%
December 31
45%
$243,012 Vol.
May 31
3%
June 30
14%
September 30
34%
December 31
45%
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...Geopolitical tensions in the Middle East, including the February 2026 military actions and subsequent de facto closure of the Strait of Hormuz, have sharply tightened global crude supplies and pushed benchmark prices to multi-year highs above $120 per barrel. Production shut-ins by major exporters such as Saudi Arabia, Iraq, and the UAE, combined with rapidly declining inventories, have amplified upward pressure despite a reported ceasefire. Traders are monitoring potential resumption of Hormuz flows, U.S. export increases, and any escalation risks that could sustain or reverse the rally. Seasonal summer demand and OPEC+ decisions remain key variables that could determine whether prices test or surpass prior peaks before year-end.
Experimental AI-generated summary referencing Polymarket data. This is not trading advice and plays no role in how this market resolves. · Updated
Beware of external links.
Beware of external links.
Frequently Asked Questions