Crude oil all time high predictionsOil prices have increased following reports that Iran and Oman have reached an agreement on a shipping route through the Strait of Hormuz. This recent understanding between Iran and Oman may indicate a temporary easing of such tensions, contributing to the upward movement in oil prices. AdvertisementKey TakeawaysThe agreement between Iran and Oman on a shipping route suggests a potential easing of tensions, which appears supportive of higher oil prices. Market pricing indicates a moderate increase in the likelihood of crude oil reaching a new all-time high by the end of September. Should these talks lead to a formal reopening, it may further encourage scenarios consistent with increased oil prices.