The probability of crude oil prices exceeding $100 in March has surged to 76%, according to data from Polymarket. This marks a significant increase from a low of 35% just a day earlier, with trading volume surpassing $10 million. The rise in odds follows JPMorgan's warning that a disruption in the Strait of Hormuz could lead to a shutdown of oil production by Gulf Cooperation Council countries, potentially driving Brent crude prices above $100 per barrel.