BlockBeats News, March 12th, according to Hyperinsight Monitoring, following the IEA’s announcement of the largest-ever 400 million barrels emergency oil release to the market, the “US, Brent Dual Oil Main Force” address (0x985f…) has been continuously rolling over its BRENTOIL (Brent Crude Oil) short positions since 10 p.m. yesterday, increasing its position by over 84,400 contracts, with a total value of approximately $8.2 million, and is still adding to its position as of two hours ago.
After this round of continuous additions, its 20x leveraged BRENTOIL short position’s total value has increased to $20.5 million, with an average price of $91.8, becoming the largest on-chain BRENTOIL short position. This position is currently unrealized loss of $1 million (-8%), with a liquidation price of $148.
At the same time, the address also holds a $14.2 million CL (WTI Crude Oil) short position, with an average price of $87.9, similarly in an unrealized loss. The combined short positions for both oils exceed $34 million, firmly betting on a future decline in oil prices.
