The probability of the event "Crude oil prices will surpass $100 in March" on Polymarket has surged to 76%.

Odaily Planet Daily reports that Polymarket website data shows the probability of “oil prices surpassing $100 in March” has surged from a low of 35% yesterday to 76%, with trading volume exceeding $10 million.

Earlier, JPMorgan stated that even if the Strait of Hormuz is blocked for only 3-4 weeks, it could force Gulf Cooperation Council member countries to shut down oil production and push Brent crude oil prices above $100 per barrel.

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