Abraxas Capital's short oil position generates $12 million in weekly profit.

HuoXing Finance reports that, according to Hyperinsight monitoring, on April 9, two addresses belonging to Abraxas Capital, Hyperliquid’s largest crude oil short position holder, saw a significant recovery in their account values over the week following the ceasefire announcement, with funds rebounding by over $12 million, turning a previous $9.7 million unrealized loss on their “short oil, long crypto” position into a profit. As of publication, both addresses continue to simultaneously take profits and reduce positions, maintaining an unrealized profit of $8.7 million. After this round of position reduction, the total holding size remains at $152 million, including approximately $126 million in combined short positions on Brent and WTI crude oil, and approximately $26.1 million in long positions across crypto markets. Details of the remaining crude oil short positions are as follows: BRENTOIL short (5x leverage): position size reduced from $92 million to $78 million, average price ~$96; WTICRUDE short (5x leverage): position size reduced from $51 million to $48.5 million, average price ~$95. Addresses: 0x5b5d51203a0f9079f8aeb098a6523a13F298C060 0xb83de012dba672c76a7dbbbf3e459cb59d7d6e36