Will oil go above 100?

Will oil go above 100 dollars per barrel again is likely yes at some point, as oil has gone above 100 several times before, in 2008, 2011 to 2014, and 2022, and oil is volatile commodity affected by geopolitics, supply, and demand. Whether it goes above 100 in near term depends on factors, strong global economic growth increasing demand, OPEC production cuts, wars or disruptions in Middle East or Russia, and low investment in new production could push oil above 100. For example, if war escalates closing Strait of Hormuz or major OPEC cut, oil could spike above 100 quickly. However, factors limiting sustained above 100 include US shale production that increases when prices rise, energy transition to electric vehicles reducing demand growth, and potential recession from high prices destroying demand. Most analysts forecast oil to trade 70 to 90 dollars in 2025 to 2026 base case, but with risk of spikes above 100 on geopolitical shocks. So oil will likely go above 100 again at some point due to volatility, but may not stay above 100 for long due to supply response and demand destruction, with sustained above 100 less likely long term.