HuoXing Finance reports that on April 1, according to Hyperinsight monitoring, Trump’s statement on troop withdrawal triggered a sharp shift in market sentiment, causing both U.S. and Brent crude oil prices to fall below the $100 mark. The two addresses of Abraxas Capital, the largest on-chain holder of crude oil positions, turned their losing short positions into profits, with combined unrealized gains expanding to $4 million and total position size reaching $144 million. The main positions are as follows: BRENTOIL short (5x leverage): total size of $92 million, average price of approximately $103; WTICRUDE short (5x leverage): total size of $52 million, average price of approximately $98.30.
Abraxas Capital's oil short positions turn profitable, floating gains reach $4M
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Summary
On-chain data shows that Abraxas Capital’s oil short positions became profitable as Brent and WTI crude prices dropped below $100 per barrel on April 1, 2026, following Trump’s withdrawal statement. The firm’s $144 million in positions consist of $92 million in BRENTOIL shorts at $103 and $52 million in WTICRUDE shorts at $98.3, both with 5x leverage. On-chain analysis reveals that unrealized gains have reached $4 million.
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