Unlikely, from a fundamental standpoint could see $120 levels, then dips to $90-$100 levels in the second half of the year, which is in the forecasts of many mutual funds, as well as the US EIAs forecast. Everyone is trying to replace russian oil, OPEC recently decided to increase production. Unless Putin decides to do something completely unpredictable like hitting with a tactical nuclear warhead, breaking through the previous maximum is practically impossible.