The April 7 high of $113 in Western Texas Intermediate crude futures will likely be broken, traders on the prediction markets platform think.

The price of crude oil has swung sharply as uncertainty over the war in the Middle East continues.

Fresh concerns about the trajectory of the U.S.-Iran war sent Brent crude futures beyond $125 on Thursday.

Oil briefly topped $126 on Asian markets on news the United States might resume bombing Iran and the Hormuz Strait closure could continue for months.

The April 7 high of $113 in Western Texas Intermediate crude futures will likely be broken, traders on the prediction markets platform think.