Relevant article on oil's record high. I think it correctly points out the possibility, but not the certainty, of "the mother of all corrections".
Again, I'm speculating on the future, but only for conversation sake. So, please by all means don't take it seriously. I don't.
But I believe that there will be a pretty significant correction. Don't know if it will be "the mother of all corrections", but nobody likes the idea of high oil prices... except OPEC and bullish speculators I suppose. That and interest rates are already very low... there isn't much more room left to go.
So, in my opinion anyway, chances are very good that these record highs are not sustainable.